Mon Sep 16 11:59:51 UTC 2024: ## Bajaj Housing Finance Makes a Bumper Debut on Stock Markets

**Mumbai, India** – Bajaj Housing Finance, a non-deposit-taking housing finance company, saw its share price soar on its debut on the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) today. The stock closed the day at ₹165 on NSE and ₹164.99 on BSE, a whopping 135.71% and 135.70% premium over its IPO price of ₹70, respectively.

The IPO, which concluded on September 11, garnered significant interest from investors across categories. Non-institutional investors (NIIs) bid 41.51 times, qualified institutional buyers (QIBs) 209.36 times, and retail investors 7.04 times. The strong response resulted in an overall subscription of 63.61 times.

The company’s strong performance is attributed to its strong brand recognition, backed by the reputable Bajaj Group, and its solid position in the housing finance sector with ₹9,7071 crore in Assets Under Management (AUM). The company’s impressive historical growth, a 30.9% Compound Annual Growth Rate (CAGR) in AUM from Fiscal 2022 to 2024, further fuels investor optimism.

Bajaj Housing Finance, known for its focus on customer service, leverages advanced digital processes for quick loan processing and high digitization to simplify customer experience. This approach has made the company attractive for low-risk salaried customers seeking home loans, particularly in the prime housing segment where the company holds a 20% market share.

Analysts predict a strong future for Bajaj Housing Finance, with several experts recommending the stock for long-term investment, citing the company’s well-positioned business model and positive outlook for the housing sector. However, others advise investors to book profits on the listing day, considering the substantial gains already made.

Sanjiv Bajaj, Chairman and Managing Director of Bajaj Finserv Ltd, expressed his appreciation for the strong response to the IPO and predicted consistent credit growth of 12-15% in the housing finance industry. Despite rate cuts, demand remains unaffected, he stated, highlighting the company’s strong market position.

Bajaj Housing Finance’s successful debut is a testament to the strong fundamentals and market confidence in the company’s growth potential, setting the stage for a promising future in the housing finance sector.

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