Bajaj Housing Finance Ltd Shares Soar 10% Post-Listing

Shares of Bajaj Housing Finance Ltd surged 10% to hit the upper circuit on Tuesday, with its market valuation skyrocketing to Rs 1,51,139.21 crore. The company's IPO had shown strong subscription rates, resulting in a significant rise from its issue price. It now stands as the most valued housing finance firm in India.

Shares of newly-listed Bajaj Housing Finance Ltd surged by 10% on Tuesday, hitting the upper circuit limit and extending the gains made on listing day.

The stock soared to Rs 181.48 on the BSE and Rs 181.50 on the NSE, reflecting the day's highest permissible trading limit.

With this jump, the company's market valuation reached Rs 1,51,139.21 crore, a monumental increase from its issue price of Rs 70, catapulting its worth by 159.28%.

As a result, Bajaj Housing Finance Ltd has become the most valued housing finance company in India.

Housing & Urban Development Corporation and LIC Housing Finance stand in second and third places, respectively.

The company's IPO saw an overwhelming response, gaining 63.60 times subscription, and the stock was listed at Rs 150, marking a significant premium of nearly 114.28% from the issue price.

The IPO featured a fresh equity issue worth up to Rs 3,560 crore and an offer-for-sale worth Rs 3,000 crore by parent company Bajaj Finance.

Bajaj Housing Finance Ltd is a non-deposit-taking housing finance company, offering a variety of mortgage products, including home loans and developer financing.

(With inputs from agencies.)