Today, September 12, 2024, is the much-awaited Bajaj Housing Finance IPO allotment. An incredible ₹3 lakh crore was subscribed for, breaking previous records for Indian IPOs. With a subscription rate of 63.61 times, the ₹6,560 crore offering became one of the most sought-after initial public offerings (IPOs) in the recent past. Using their application number or PAN card details, investors can check their allotment status on the official websites of BSE or IPO registrar.
Record Subscription for Bajaj Housing Finance IPO
The overwhelming demand for shares of Bajaj Housing Finance has surpassed the previous records set by Mundra Port in 2007 and Coal India Ltd. in 2008, both of which had subscriptions over ₹2 lakh crore. Institutional and retail investors flocked to the BSE and NSE this year, with the IPO drawing 4,628 crore shares against an offer of 72.75 crore shares.
The Qualified Institutional Buyers (QIBs) quota saw an astounding 209 times subscription, while the portion designated for non-institutional investors was subscribed 41.51 times. With over seven times as many bids, the Retail Individual Investors (RIIs) quota was filled.
How to Check Bajaj Housing Finance IPO Allotment Status
If you’ve bid on the Bajaj Housing Finance IPO, here’s how you can check the allotment status:
On KFin Technologies Website
- Visit the KFintech IPO Status Page.
- Select Bajaj Housing Finance from the dropdown menu.
- Enter your PAN, Application number, or DP Client ID.
- Click the Submit button to view your allotment status.
On BSE Website
- Visit the official BSE website.
- Click on the Investors section.
- Under Investor Services, select Status of Issue Application.
- Choose Equity under the issue type.
- Enter your PAN number, select Bajaj Housing Finance as the issue name, and click Search to view the allotment status.
Grey Market Premium (GMP) Surges Over 100%
Strong investor confidence is reflected in the Grey Market Premium (GMP) for Bajaj Housing Finance shares, which has soared to above 100%. The GMP increased to ₹72 on the unlisted market as of right now, suggesting strong demand and the possibility of a large premium when the shares are listed on stock markets.
On September 16, 2024, Bajaj Housing Finance’s shares will formally list on the BSE and NSE. Analysts anticipate robust demand and investor interest in the stock, which will propel its performance given that the IPO has already broken records.
Purpose of the IPO
The IPO of Bajaj Housing Finance consists of a offer-for-sale (OFS) of ₹3,000 crore made by its parent company, Bajaj Finance, as well as a new equity issue valued at ₹3,560 crore. The money raised will be put towards strengthening the company’s capital basis so that it can continue to satisfy its financial needs in the future.
The Reserve Bank of India (RBI) regulation, which stipulates that upper-layer non-banking financial businesses (NBFCs) must be listed on stock markets by September 2025, is also being complied with by this IPO. In order to comply with this criteria and capitalise on the increasing interest from investors in financial equities, Bajaj Housing Finance decided to go public.
Bajaj Housing Finance: A Leader in India’s Financial Sector
Bajaj loan subsidiary Bajaj Housing Finance has been a dominant force in India’s housing loan market for some time. The organisation provides a variety of financial products, such as lease rental discounting, home loans, and loans secured by real estate. Bajaj homes Finance is in a good position to benefit from the increasing demand for house loans and affordable homes in India because of its expanding client base and solid capital foundation.
The company will have the funds from the IPO to grow its business, launch new goods, and maintain its current rate of success in the Indian financial market.
Final Thoughts
With record-breaking interest and subscriptions totalling more than ₹3 lakh crore, the Bajaj Housing Finance IPO has attracted attention never seen before. The allotment results, which are anticipated today, are highly anticipated by investors. With the shares scheduled to list on September 16, 2024, and the GMP indicating substantial demand, this IPO may signal a major turning point for the Indian stock market.
In addition to helping Bajaj Housing Finance comply with regulations, the money raised through the IPO would enhance the company’s standing in the rapidly expanding housing finance market in India. Participants in the IPO should keep an eye on their allotment status and get ready for what seems to be a much-anticipated launch on the stock market.
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