Bajaj Housing Finance’s initial public offering (IPO) has taken the market by storm, setting a new record with a staggering 9 million applications! The Rs 6,560-crore offering saw cumulative bids exceeding an incredible Rs 3.24 trillion, surpassing the previous record held by Tata Technologies. This achievement underscores the strength of the Indian IPO market, which continues to attract both domestic and global investors.
The IPO was oversubscribed 67 times overall, with institutional investors showing immense interest, subscribing 222 times over. High net worth individuals were equally enthusiastic, with subscriptions 51 times for investments up to Rs 10 lakh and 31 times for higher amounts. Retail investors poured in bids worth over Rs 60,000 crore!
Experts are calling this a milestone moment for the Bajaj group, which has consistently delivered exceptional shareholder value through its financial powerhouses, Bajaj Finance and Bajaj Finserv. The buzz surrounding Bajaj Housing’s IPO is reminiscent of the excitement seen during Tata Technologies’ debut last year, which had also marked a historic moment for the IPO market.
The listing day could see Bajaj Housing’s shares double in value, potentially positioning it as India’s most valuable non-deposit-taking housing finance company, with an estimated valuation of Rs 1.2 trillion. Will it dethrone LIC Housing Finance, currently valued at Rs 37,151 crore? We’ll find out soon enough!
Stay tuned for more updates and insights on the latest IPO news at ipograymarket.com.
