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Bajaj Housing Finance IPO Shares To List Tomorrow; Here's What GMP Suggests

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Bajaj Housing Finance's Initial Public Offering (IPO) drew extensive interest, with the offering being oversubscribed 67.43 times by September 11, 2024, the third day of bidding.Qualified Institutional Buyers (QIBs) showed overwhelming interest by subscribing 222.05 times, while Non-Institutional Investors (NIIs) subscribed 43.98 times. The retail portion saw a subscription rate of 7.41 times. The offering included a fresh issue of 50.86 crore shares worth Rs 3,560 crore and an offer to sell 42.86 crore shares priced at Rs 3,000 crore.

The Bajaj Housing Finance IPO worth Rs 6,560 crore, was announced on September 9 and it was closed on September 11. The IPO’s price band was set between Rs 66 and Rs 70 per share. Retail investors, who can apply in minimum lots of 214 shares, will need to invest a minimum of Rs 14,980. The allotment process for the Bajaj Housing Finance IPO was finalised on September 12, 2024, with shares scheduled to be listed on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) on September 16, 2024. Bajaj Housing Finance IPO GMPAccording to numerous websites that track grey market premium activities, the shares of Bajaj Housing Finance IPO are commanding a GMP in the price range of Rs 75 to Rs 80 in the unlisted market.Bajaj Housing Finance, founded in 2008 and registered with the National Housing Bank (NHB) since 2015, offers a variety of mortgage products such as house loans, loans against property, rent discounts, and developer financing. As of March 31, 2024, the company, which is part of the diversified Bajaj Group, had 308,693 active customers, with housing loans accounting for 81.7% of them.The revenues from this IPO will be used to improve the company's capital structure and to fund future lending initiatives.

The main managers of the IPO are Kotak Mahindra Capital Company Limited, Bofa Securities India Limited, Axis Capital Limited, Goldman Sachs (India) Securities Private Limited, SBI Capital Markets Limited, JM Financial Limited, and IIFL Securities Ltd. The issue's registrar is Kfin Technologies Limited.(Disclaimer: The above article is meant for informational purposes only, and should not be considered as any investment advice. Times Now Digital suggests its readers/audience to consult their financial advisors before making any money related decisions.)
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