Tue Sep 10 22:21:21 UTC 2024: ## Bajaj Housing Finance IPO Overwhelmed by Investor Demand on Day 2

**Mumbai, September 11, 2024:** Bajaj Housing Finance Ltd’s ₹6,560 crore initial public offering (IPO) continued to witness strong investor interest on its second day, with an overall subscription of 7.51 times.

The non-institutional investor (NII) portion saw the most significant demand, being subscribed 16.46 times. The category reserved for shareholders was subscribed 9.55 times, while qualified institutional buyers (QIBs) and retail investors saw subscriptions of 7.46 times and 3.84 times, respectively. The employee portion received 97% bids.

The IPO, with a price band of ₹66-70 per share, is set to conclude today, September 11. Investors can apply for a minimum of 214 equity shares and in multiples thereafter. The company aims to raise ₹3,560 crore through fresh share sale and ₹3,000 crore via an offer-for-sale (OFS) from its promoter Bajaj Finance Ltd. The proceeds will be used to augment capital for future business growth.

Several domestic brokerages have recommended subscribing to the IPO, citing Bajaj Housing’s strong brand equity, strategic expansion plans, extensive geographic reach, and enhanced technological infrastructure.

In the grey market, Bajaj Housing shares were trading at a premium of 94.29% against the issue price, indicating strong investor confidence. The stock is expected to be listed on September 16.

The company, founded in 2008, is a non-deposit-taking housing finance company registered with the National Housing Bank since 2015. It is part of the diversified Bajaj Group, with interests in various sectors.

Ahead of the IPO, Bajaj Housing raised ₹1,758 crore from anchor investors, including the Government of Singapore, New World Fund Inc, ADIA, Fidelity, Invesco, HSBC, Morgan Stanley, Nomura, JP Morgan, and several domestic mutual funds and insurance players.

**Other IPOs:**

Tolins Tyres Ltd and Kross Ltd, two other mainboard IPOs, saw subscriptions of 5.22 times and 2.56 times, respectively, on their second day. The PN Gadgil Jewellers IPO, which opened for subscription today, received 2.01 times bids on Day 1.

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