The Bajaj Housing Finance IPO GMP has garnered significant attention in the market since its launch on September 9, 2024. With an offer price range between ₹66 and ₹70 per share, this IPO has attracted various categories of investors, with a portion of the shares being reserved for retail investors, qualified institutional buyers (QIBs), and non-institutional investors (NIIs). Here’s a detailed update on the IPO’s progress, Grey Market Premium (GMP), and expert reviews.
Key Highlights of the Bajaj Housing Finance IPO
- Issue Size: The IPO includes a mix of an offer for sale (OFS) and a fresh issue of equity shares, totaling up to ₹6,560 crore.
- IPO Dates: Opened on September 9 and will close on September 11.
- Price Band: ₹66–₹70 per share.
- Allocation:
- 50% for Qualified Institutional Buyers (QIBs)
- 15% for Non-Institutional Investors (NIIs)
- 35% for Retail Investors
- Anchor Investors: Raised ₹1,758 crore before the IPO.
Day 2 Subscription Status (As of 10:54 IST)
As the second day of the IPO subscription progresses, the issue has been subscribed 2.89 times. Here’s how different categories are performing:
- Retail Investors: Subscribed 2.29 times.
- Non-Institutional Investors (NIIs): Subscribed 6.41 times.
- Qualified Institutional Buyers (QIBs): Subscribed 1.08 times.
- Employee Quota: Subscribed 56%.
- Shareholders Quota: Subscribed 4.32 times.
Grey Market Premium (GMP) Insights
The Bajaj Housing Finance IPO GMP has generated excitement in the grey market, with its GMP reaching ₹64 today. This suggests a potential listing price of ₹134 per share, representing a 91.43% increase from the upper end of the price band (₹70).
- GMP Range: Over the last 20 sessions, the IPO GMP has fluctuated between ₹36 and ₹64.
- Market Sentiment: The increasing GMP indicates strong market demand and potential listing gains.
Expert Reviews and Recommendations
Several brokerage firms have provided positive feedback on the IPO, citing the company’s strong financials and growth potential.
- Swastika Investmart recommends subscribing to the IPO for long-term value appreciation.
- Motilal Oswal Financial Services rates the issue a “Subscribe” due to the solid backing of the Bajaj brand, risk management practices, and favorable pricing.
Company Overview
Bajaj Housing Finance Limited is a non-deposit taking housing finance company, providing loans for residential and commercial properties. Since its registration with the National Housing Bank in 2015, the company has positioned itself as a reliable financial institution, offering a wide range of mortgage products.
Final Thoughts
With strong market demand, competitive pricing, and positive grey market trends, the Bajaj Housing Finance IPO GMP presents an opportunity for both short-term gains and long-term investment. However, it’s essential to consult with financial experts before making investment decisions.
Disclaimer: The views and opinions expressed in this article are based on publicly available information and expert analyses. Investors should perform their own research and consult certified financial advisors before making any investment decisions