One of the hottest IPO got fully subscribed within the first four hours. The retail segment was booked to a total of 1.4 times more than the offered shares. The company wants to collect a sum of Rs 6,560, while it got biddings worth Rs 8,294.335 crore, with two days still left for bidding.
Bajaj Housing Finance IPO Details
Bajaj Housing Finance, a book-built issue, wants to raise funds via a combination of fresh capital and the sale of secondary shares. The company kept the IPO price band between Rs 66 to Rs 70 per equity share. It opened its IPO to investors on September 09 and will stop taking bids from September 11.
Bajaj Housing Finance Allotment and Listing
The allotment for the Bajaj Housing Finance IPO is expected to be finalised by September 12. The company will likely hit D-Street on September 16, as per the tentative schedule.
Minimum Investment Requirement
A retail buyer needs to apply for a minimum of one lot that contains 214 shares, which amounts to a total of Rs 14,980. There are different lot sizes for small and big NIIs, ranging from 14 lots to 67 lots.
Motilal Oswal on Bajaj Housing Finance
“Bajaj Housing Finance benefits from the distinguished heritage of the “Bajaj” brand, which enjoys widespread recognition as a reliable retail brand. It has a strong risk management framework which helps it to maintain stable asset quality. BHF is confident of maintaining stable NIM through borrowing cost optimization & has guided for a leverage ratio of 6x-8x. The IPO is fairly priced at 3x FY25 P/BV (on a diluted basis). Given all the positives, recommend Subscribe to the issue,” said the brokerage house Motilal Oswal in an IPO note.