Tue Sep 10 23:33:33 UTC 2024: ## Bajaj Housing Finance IPO OverSubscribed by 7.51 Times on Day 2

**Mumbai, September 10, 2023:** The initial public offering (IPO) of Bajaj Housing Finance, which opened for subscription on September 9th, has been oversubscribed by 7.51 times on the second day of bidding. The IPO is scheduled to close on September 11th.

The strong response reflects investor confidence in the company, which is a leading non-banking financial company (NBFC) specializing in housing finance solutions. Bajaj Housing Finance offers a diverse range of mortgage products including home loans, real estate-backed loans, lease rental discounting, and developer financing.

Retail investors were particularly enthusiastic, oversubscribing their allocation by 3.84 times. Non-institutional investors also displayed strong interest, subscribing their share by 16.46 times. Qualified institutional buyers (QIBs) subscribed 7.46 times their allocation.

The IPO, which comprises a fresh issue of ₹3,560 crores and an offer for sale of ₹3,000 crores, is aiming to raise a total of ₹6,560 crores. The funds raised will be utilized to strengthen the company’s capital base and support its future growth.

The IPO price band is set between ₹66 and ₹70 per share. The Grey Market Premium (GMP) for Bajaj Housing Finance IPO currently stands at +68, indicating a strong market anticipation for a premium listing. Based on the current GMP, the estimated listing price for Bajaj Housing Finance shares is projected to be ₹138, representing a 97.14% increase from the IPO price of ₹70.

The book running lead managers for the offering are Axis Capital Ltd, Goldman Sachs (India) Securities Private Ltd, SBI Capital Markets Ltd, JM Financial Ltd, IIFL Securities Ltd, and Kotak Mahindra Capital Company Ltd.

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