Mon Sep 16 08:59:57 UTC 2024: ## Bajaj Housing Finance Makes a Stellar Debut on Stock Exchanges
**Mumbai, September 16, 2024:** Bajaj Housing Finance, a subsidiary of India’s largest non-banking finance company, Bajaj Finance, made a triumphant market debut on Monday, with its shares listing at a premium of 114.28% over its issue price of ₹70.
The stock opened at ₹150 on both the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE), reflecting a surge in investor demand for the company. The listing marks a significant milestone for the housing finance company, which raised ₹6,560 crore through its initial public offering (IPO) earlier this month.
The IPO received an overwhelming response, being oversubscribed by 63.60 times, with strong participation from institutional buyers. The company’s market valuation now stands at ₹1,30,751.90 crore.
The IPO proceeds will be used to augment the company’s capital base to meet its future requirements. Bajaj Housing Finance, a non-deposit taking company registered with the National Housing Bank, offers a comprehensive suite of mortgage products, including home loans, loans against property, lease rental discounting, and developer financing.
The company’s strong performance on its first trading day underscores the robust appetite for first-time share sales in India. Investors, buoyed by strong economic growth and a booming demand for real estate, are confident in Bajaj Housing Finance’s prospects.
The listing also reflects the overall strength of the Indian equity market, with the BSE Sensex and NSE Nifty hitting fresh all-time highs today.
First Piper 