Tue Sep 17 09:10:05 UTC 2024: ## Bajaj Housing Finance Shares Surge 10% on Listing Day, Analysts See Long-Term Potential

**Mumbai, India** – Bajaj Housing Finance shares experienced a remarkable 10% surge on Tuesday, September 17th, hitting the upper circuit at Rs 181.5. This follows the company’s blockbuster IPO debut, where it raised a record Rs 6,560 crore and garnered bids exceeding Rs 3 lakh crore.

The strong performance continues as Phillip Capital has assigned a ‘buy’ rating to the stock, with a target price of Rs 210, suggesting a potential 27% upside. The brokerage firm highlights Bajaj Housing Finance’s strategic focus on the lucrative Rs 50 lakh home loan segment, which constitutes 65% of India’s home loan market.

Phillip Capital expects Bajaj Housing’s balance sheet to surpass Rs 2 lakh crore within three years. Additionally, benign near-term credit costs are anticipated to further fuel the company’s growth trajectory.

Analysts recommend investors hold onto their Bajaj Housing Finance shares for long-term gains, citing the company’s robust fundamentals. For those who missed the IPO, cautious buying with a long-term perspective is advised.

“Investors choosing to add the stock on listing day should have a long-term perspective on Bajaj Housing Finance stock and should not look for short-term opportunities,” stated Narendra Solanki, Head of Equity Research (Fundamental) at Anand Rathi Shares & Stock Brokers.

The IPO consisted of a fresh issue of equity shares worth Rs 3,560 crore and an offer-for-sale (OFS) of equity shares valued at Rs 3,000 crore by parent company Bajaj Finance. The share sale was conducted to meet the Reserve Bank of India’s (RBI) regulations requiring upper-layer non-banking finance companies to be listed on stock exchanges by September 2025.

With the listing day gains, Bajaj Housing Finance’s market capitalization reached Rs 1.37 lakh crore, almost 2.4 times the estimated Rs 58,297 crore at the IPO allotment price.

**Disclaimer:** This news article is for informational purposes only and should not be construed as investment advice. Consult with a qualified financial professional before making any investment decisions.

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