The Bajaj Housing Finance IPO concluded today, achieving a subscription rate of 63.54x as strong demand surged from both institutional and wealthy non-institutional investors. The total bid amount exceeded ₹3 lakh crore, making it one of India’s most subscribed IPOs, following historic listings like Coal India (2008) and Mundra Port (2007), which had topped ₹2 lakh crore in subscription amounts.
The ₹6,560-crore public issue received 4,622 crore bids against 72.75 crore shares on offer across the BSE and NSE by the end of bidding. The breakdown of subscriptions included:
- Non-Institutional Investors (NII): 41.42x
- Qualified Institutional Buyers (QIB): 209.36x
- Retail Individual Investors (RII): 6.92x
The grey market premium of the IPO skyrocketed to ₹65 on the last day of bidding, at a 92% premium, hinting at an extraordinary demand for Bajaj Housing Finance shares.
Earlier, the company had raised ₹1,758 crore from anchor investors. The IPO comprises a fresh issue of equity shares aggregating to ₹3,560 crore and an OFS of shares aggregating to ₹3,000 crore by the parent company- Bajaj Finance. The IPO facilitates Bajaj Housing Finance in meeting the RBI regulations that have made it binding for NBFCs at the upper layer to get listed by September 2025. Proceeds of fresh issue will be utilized to augment the capital base of the company so as to meet the additional capital requirements in the future.
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Source: Moneycontrol
News Desk
