Bajaj Housing Finance IPO size is ₹6,560.00 crore.One lot of Bajaj Housing Finance IPO will have 214 shares.IPO shares are trading at 80 per cent premium in the grey market.
New Delhi. Bajaj Housing Finance, a Bajaj Group company, is going to be listed in the stock market soon. The company has announced the price band for the Bajaj Housing Finance IPO, which is going to open next week. The company has fixed the price band at ₹66-₹70 per share for its ₹6,560 crore initial public offering (IPO). This Bajaj IPO will open for subscription on September 9, while bidding can be done till September 11. The unlisted shares of Bajaj Housing Finance IPO are getting a good response in the grey market and the shares are trading at a premium of about 80 percent i.e. Rs 55.
It is worth noting that this IPO of Bajaj Housing Finance has come under the rules of the Reserve Bank of India (RBI), which provides that it is mandatory to be listed in the market within three years of being included in the list of “Upper Layer NBFC”. This deadline for Bajaj Housing Finance was to end in September 2025. Before Bajaj Housing Finance, two companies of Bajaj Group, Bajaj Finance and Bajaj Finserv, are listed in the stock market.
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IPO details
The size of Bajaj Housing Finance IPO is Rs 6,560.00 crore. Under this IPO, new shares worth Rs 3,560.00 crore will be issued while under the Offer for Sale window, 42,85,71,429 shares with a face value of Rs 10 will be sold. The company will use the money raised through new shares to increase its capital base.
You will have to invest at least Rs 14980
The company has said that the price band of its shares in the IPO will be Rs 66-70. One lot of Bajaj Housing Finance’s IPO will have 214 shares. This means that investors will need at least Rs 14,980 to bid in this Bajaj IPO. Retail investors will be able to invest a maximum of 13 lots or Rs 1 lakh 94 thousand 740.
Headlines
- IPO Opening Date : September 9–11
- Allotment of Shares: 12 September
- Listing date: September 16 (BSE and NSE)
- Issue Registrar: Caffeine Tech
- Customer : 3,08,693 active customers as of March 2024.
- Net profit : ₹482.61 crore in the first quarter of the current financial year.
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Tag: Business News, IPO, Money making tips, Stock Market
first published : September 3, 2024, 2:27 pm IST
