The Rs 6,560-crore IPO of Bajaj Housing Finance, which opened for bidding on September 9, was fully subscribed within the first four hours. The portion reserved for HNIs (Non-Institutional Investors) has already been oversubscribed, while the Retail Individual Investors (RII) category is nearing full subscription, having been 97% subscribed by 2 PM.
Bajaj Housing Finance collected Rs 1,758 crore from anchor investors ahead of the IPO launch. The IPO, which includes a fresh issue of equity shares worth Rs 3,560 crore and an offer-for-sale (OFS) of Rs 3,000 crore from its parent company Bajaj Finance, will remain open until September 11.
The price band for the IPO is set at Rs 66 to Rs 70 per share, and the shares were commanding a GMP (grey market premium) of Rs 51, reflecting a 73% premium in the unlisted market.
As of 2 PM, the IPO had received bids for over 72.59 crore shares on both NSE and BSE, with non-institutional investors showing 2.28 times subscription.
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Source: Moneycontrol
News Desk
