Shares of Bajaj Housing Finance made a strong debut on stock markets on Monday.
Bajaj Housing Finance
Shares of Bajaj Housing Finance made a strong debut on stock markets on Monday.
It was listed at Rs 150 per share on both NSE and BSE, with a premium of 114 per cent over the IPO issue price.
It is to be noted that the Bajaj Housing Finance shares were allotted to successful IPO bidders on September 13 at an issue price of Rs 70 per share.
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Bajaj Housing Finance shares climbed further to Rs 164.99 to hit the upper circuit, up 135 per cent from the IPO price.
Company’s market capitalisation topped Rs 1.37 lakh crore, nearly 2.4 times the estimated Rs 58,297 crore at the IPO allotment price of Rs 70 per share.
Bajaj Housing Finance listing gains of Rs 80 per share were slightly above the stock’s grey market premium.
The firm’s shares were trading with a Good Manufacturing Practices (GMP) of Rs 75 on Monday morning.
Bajaj Housing Finance’s Rs 6,560-crore IPO received an overwhelming response last week, with subscriptions totaling Rs 3.23 lakh crore.
Classified as an “upper layer” non-banking financial institution (NBFC) by the RBI, Bajaj Housing Finance provides a range of mortgage products, including home loans, loans against property, lease rental discounting, and developer financing.
Bajaj Housing Finance has been registered with the National Housing Bank in September 2015, and is a non-deposit-taking housing finance company.
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