Tue Sep 17 09:00:09 UTC 2024: ## Bajaj Housing Finance IPO Soars: Shares Double on Listing, Jump 8% on Day 2
**Mumbai, India:** Bajaj Housing Finance, a subsidiary of the renowned Bajaj Group, made a spectacular debut on the stock market on Monday. The company’s shares doubled in value on listing, much to the delight of investors. The momentum continued on Tuesday, with the finance stock experiencing a remarkable 8% surge in the opening minutes of trading.
The initial public offering (IPO) of Bajaj Housing Finance was oversubscribed by a staggering 67.37 times, indicating strong investor confidence. The shares were listed at a premium of 114.29% over the price band, opening at ₹150, compared to the price band of ₹66 to ₹70. The stock climbed further, gaining another 10% on its first day of trading.
On Tuesday, the stock opened at ₹175.50 and quickly reached a high of ₹181.50. This robust performance comes after experts had predicted a successful listing due to the robust subscription rate and positive sentiment in the market.
The IPO, which opened for retail investors on September 9th and closed on September 11th, raised a total of ₹6,560 crore. The company issued 50.86 crore fresh shares worth ₹3,560 crore and offered 42.86 crore shares for sale at a price of ₹3,000 crore.
The IPO received an overwhelming response from investors, with the Qualified Institutional Buyer (QIB) category being oversubscribed by 222 times, Non-Institutional Investors (NII) by 43.92 times, and the retail portion by 7.32 times.
**Disclaimer:** This news article is for informational purposes only and should not be considered financial advice. It is highly recommended to consult with a market expert before making any investment decisions.
First Piper 