Mon Sep 16 16:12:38 UTC 2024: ## Bajaj Housing Finance Shares Double on Stellar IPO Debut

**Mumbai, India -** Shares of Bajaj Housing Finance, the home loan unit of India’s largest shadow lender, surged over 100% on their trading debut on Monday, reflecting the strong appetite for IPOs in India.

The company’s ₹65.6 billion ($781 million) IPO, the largest in India this year, was oversubscribed by more than 60 times. Shares were listed at ₹150, a 114.2% premium over the issue price of ₹70. The stock ended the day 10% higher on the NSE at ₹165.

The strong performance reflects several factors:

* **Buoyant Demand for IPOs:** India has seen a surge in IPO activity this year, driven by a strong economy and high valuations for listed stocks.
* **Bajaj’s Strong Brand Recall:** Bajaj Finance, the parent company, has a history of stellar returns and is known for its strong brand and wide range of financial services.
* **Access to Low-Cost Funds:** Bajaj Housing benefits from its parent’s financial strength, giving it access to cheaper funding and an edge over competitors.

The company’s IPO debut comes amid a wave of strong listings in India, with companies like Ola Electric Mobility and Brainbees Solutions seeing their share prices surge above their issue price.

Bajaj Housing’s IPO included a sale of new shares worth ₹35.6 billion and an offer-for-sale of shares worth ₹30 billion by founder Bajaj Finance.

The strong performance of Bajaj Housing Finance’s IPO is likely to further fuel the IPO boom in India, with more major listings expected in the coming months.

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