Bajaj Housing Finance Ltd: A Market Leader's Phenomenal Debut
Bajaj Housing Finance Ltd became the most valued housing finance company in India after its market debut where the stock price more than doubled. The IPO closed with an impressive 63.60 times subscription, highlighting strong institutional interest. The firm plans to use proceeds to strengthen its capital base.
- Country:
- India
Bajaj Housing Finance Ltd emerged as the most valued housing finance company in the country after a blockbuster market debut on Monday, where its stock price more than doubled.
Shares of Bajaj Housing Finance Ltd closed with a premium of nearly 136 percent against the issue price of Rs 70. The stock listed at Rs 150 on the BSE and NSE, ultimately rising 135.7 percent to Rs 165, achieving its upper circuit limit. This impressive performance culminated in a market valuation of Rs 1,37,406.09 crore.
Housing & Urban Development Corporation and LIC Housing Finance trailed behind Bajaj Housing Finance Ltd with market capitalizations of Rs 49,476.96 crore and Rs 37,434.54 crore, respectively. Meanwhile, shares of rivals LIC Housing Finance and HUDCO saw declines of 5.92 percent and 2.10 percent.
(With inputs from agencies.)
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