Jobaaj Stories
The initial public offer (IPO) of Bajaj Housing Finance has seen an overpowering response on its first day. As of 17:00 IST on Monday, 9 September 2024, the IPO received bids for 146.58 crore shares, which is more than double the 72.75 crore shares on offer. According to stock exchange data, the issue was subscribed 2.01 times on the opening day itself.
The IPO opened for bidding on Monday and will remain open until Wednesday, 11 September 2024. The price band for the IPO is set between Rs 66 and Rs 70 per share, allowing investors to participate in the offering within this range. The minimum bid lot is 214 equity shares, and bids can be made in multiples of this lot size.
End of 1st day Subscription Figures in Bajaj Housing Finance IPO @ipo_mantra pic.twitter.com/ersYoc6tk4
— Team IPO Mantra (@Team_IPOMantra) September 9, 2024
The IPO consists of a fresh issue aimed at raising Rs 3,560 crore. At the lower price band of Rs 66 per share, this would involve the issuance of 53.94 crore equity shares. At the upper price band of Rs 70 per share, 50.86 crore equity shares would be issued. These new shares are being offered at a face value of Rs 10 each.
In addition to the fresh issue, the IPO also includes an offer for sale (OFS) worth Rs 3,000 crore. This part of the issue involves the sale of 42.86 crore to 45.45 crore equity shares by the promoter, Bajaj Finance. This means that a portion of the existing shares held by the promoter are being sold to the public as part of the IPO.
Shareholders Quota Matrix in Bajaj Housing Finance IPO (REVISED):
— Jaskirat Singh Gujral 🇮🇳 (@J_S_Gujral) September 9, 2024
♦️As per revised conditions, we cannot apply more than 2782 shares in Shareholder’s Quota.
♦️Those who are eligible Shareholders can apply 2 applications in Bajaj Housing Finance IPO with same PAN Card.
You can… pic.twitter.com/8pTx8WZmV9
The offer also includes special reservations for certain groups. Shareholders of Bajaj Finserv and Bajaj Finance have a reserved portion worth Rs 500 crore, while employees of the company have a reserved portion worth Rs 200 crore.
Lastly, the strong initial response to Bajaj Housing Finance's IPO reflects significant investor interest, with the issue being oversubscribed on its first day. As the IPO continues over the next two days, it will be interesting to see how the demand evolves. This IPO is not only a key moment for Bajaj Housing Finance but also an opportunity for investors looking to be part of its growth story.
