Mon Sep 16 11:01:24 UTC 2024: ## Bajaj Housing Finance Makes a Stellar Stock Market Debut with 135% Premium

**Mumbai, India** – Bajaj Housing Finance shares surged on their first day of trading, closing at Rs 164.99, a staggering 135% premium over the IPO price of Rs 70. The company’s market capitalization touched Rs 1.37 lakh crore, nearly 2.4 times the estimated value at the IPO allotment price.

The strong performance was driven by overwhelming investor response to the Rs 6,560 crore IPO, which garnered subscriptions of Rs 3.23 lakh crore last week. Analysts cite the company’s robust fundamentals and the positive outlook for the housing finance sector as key drivers for future growth.

Narendra Solanki, Head of Equity Research (Fundamental) at Anand Rathi Shares & Stock Brokers, recommends investors hold the stock for long-term gains. Sanjiv Bajaj, Chairman and Managing Director of Bajaj Housing Finance, assured investors that rate cuts do not impact demand and the company’s net interest margin is likely to remain stable.

The IPO was a regulatory requirement by the Reserve Bank of India for upper-layer non-banking finance companies to be listed by September 2025. Funds raised from the fresh issue will be used to strengthen the company’s capital base for future needs.

Bajaj Housing Finance, a non-deposit-taking housing finance company, offers various financial solutions for residential and commercial properties, including home loans, loans against property, and developer financing.

**Disclaimer:** The views expressed in this article are those of the author and do not represent the views of Moneycontrol.com.

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