NEW DELHI: Bajaj Housing Finance shares debuted at over double the provide value in pre-open commerce on Monday as buyers wager on sturdy development in a booming house mortgage market.
The housing finance firm commenced buying and selling on the stock exchanges with a powerful 114% premium. The firm’s shares opened at Rs 150 on each the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE), considerably increased than the problem value of Rs 70.In the lead-up to the itemizing, the shares had been buying and selling at a Grey Market Premium (GMP) of 120% above the problem value.
The preliminary public providing (IPO) of Bajaj Housing Finance, which raised Rs 6,560 crore, has turn into the biggest IPO within the present 12 months. The public situation witnessed an amazing response from buyers, with the variety of subscriptions reaching almost 67 instances the overall shares supplied by the corporate.
Bajaj Housing Finance is a number one supplier of mortgage loans in India, catering to high-end particular person homebuyers and large-scale builders. The firm’s sturdy backing from its mother or father firm, Bajaj Group, has enabled it to determine an intensive distribution community throughout the nation. As of June 30, 2024, Bajaj Housing Finance operates “215 branches across 174 locations in 20 states.”
Despite getting into the mortgage market solely seven years in the past, Bajaj Housing Finance has rapidly risen to turn into the biggest non-deposit-taking Housing Finance Company (HFC) in India, as measured by Assets Under Management (AUM).
The housing finance firm commenced buying and selling on the stock exchanges with a powerful 114% premium. The firm’s shares opened at Rs 150 on each the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE), considerably increased than the problem value of Rs 70.In the lead-up to the itemizing, the shares had been buying and selling at a Grey Market Premium (GMP) of 120% above the problem value.
The preliminary public providing (IPO) of Bajaj Housing Finance, which raised Rs 6,560 crore, has turn into the biggest IPO within the present 12 months. The public situation witnessed an amazing response from buyers, with the variety of subscriptions reaching almost 67 instances the overall shares supplied by the corporate.
Bajaj Housing Finance is a number one supplier of mortgage loans in India, catering to high-end particular person homebuyers and large-scale builders. The firm’s sturdy backing from its mother or father firm, Bajaj Group, has enabled it to determine an intensive distribution community throughout the nation. As of June 30, 2024, Bajaj Housing Finance operates “215 branches across 174 locations in 20 states.”
Despite getting into the mortgage market solely seven years in the past, Bajaj Housing Finance has rapidly risen to turn into the biggest non-deposit-taking Housing Finance Company (HFC) in India, as measured by Assets Under Management (AUM).
