Tue Sep 17 05:53:19 UTC 2024: ## Bajaj Housing Finance Shares Soar 135% on Listing Day
**Mumbai, September 17, 2024:** Bajaj Housing Finance, a leading housing finance company, witnessed a remarkable debut on the stock market today, with its shares surging 135% to close at ₹164.99, significantly higher than its initial public offering (IPO) price of ₹66-70. The company’s market capitalization reached a staggering ₹1.4 lakh crore on the first day of listing.
The IPO, which was oversubscribed 68 times, saw a strong demand from investors. The listing price of ₹150 reflected a 114% premium over the IPO price, and the stock continued to rise throughout the day, hitting an upper circuit of 10%.
**Investment Advice:**
* **For new investors:** SMT Co-founder and SEBI-registered research analyst VLA Ambala advises risk-tolerant investors to consider entering Bajaj Housing Finance at ₹165-175.
* **For existing shareholders:** Ambala recommends holding at least 50% of their existing holdings, even after potential drops to ₹130.
* **Target Price:** Ambala believes the target price for Bajaj Housing Finance shares could be between ₹300 and ₹800, citing the increasing demand for housing loans and population growth.
* **Experts’ Views:** While Narendra Solanki, Head of Equity Research (Fundamental) at Anand Rathi Shares and Stock Brokers, highlighted the strong fundamentals and growth potential of Bajaj Housing Finance, Rajesh Agarwal, Research Head at AUM Capital, suggested that LIC Housing Finance presents a better investment opportunity due to its attractive valuation.
**About the IPO:**
Bajaj Housing Finance raised ₹6,560 crore through its IPO, with ₹3,560 crore being an offer for sale and the remaining ₹3,000 crore representing a fresh issue. The robust performance on the listing day indicates investor confidence in the company’s future growth prospects.
First Piper 