Bajaj Housing Finance, a major player in the housing finance sector, has finalised its IPO on September 12 and the listing will take place on NSE and BSE on September 16. With a strong business background and steady growth, the company’s IPO allotment has caught the eye of both small and large investors. As anticipation grows, many are eager to see if Bajaj Housing Finance’s market debut will match the success of its parent company.
Overview Of Bajaj Housing Finance
Bajaj Finance is one of India’s leading non-banking financial companies (NBFCs), offering several financial services personal loans, business loans, home loans and consumer loans for products like electronics and vehicles. It also provides credit cards, insurance and investment options. With a strong digital presence and a wide network of branches, Bajaj Finance makes financial services easily accessible across cities and rural areas.
The Bajaj Housing Finance IPO, which closed for subscription on Wednesday, September 11, 2024, received an impressive 8.9 million applications. This broke the previous record of 7.35 million applications set by Tata Technologies.
Details Of Bajaj Housing Finance IPO
| Detail | Information |
| IPO | September 9, 2024, to September 11, 2024 |
| Listing Date | September 16, 2024 |
| Face Value | ₹10 per share |
| Price Band | ₹66 to ₹70 per share |
| Lot Size | 214 shares |
| Fresh Issue | 50.86 crore shares (aggregating up to ₹3,560 Crores) |
| Listing At | BSE, NSE |
| Shareholding Pre-Issue | 7,819,575,273 shares |
| Shareholding Post-Issue | 8,328,146,702 shares |
IPO Timeline
| Event | Date |
| IPO Open Date | September 9, 2024 |
| IPO Close Date | September 11, 2024 |
| Basis of Allotment | September 12, 2024 |
| Initiation of Refunds | September 13, 2024 |
| Credit of Shares to Demat | September 13, 2024 |
| Listing Date | September 16, 2024 |
What are the strengths and weaknesses related to this IPO?
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Strengths
- The company enjoys widespread recognition in India as a reliable retail brand due to the distinguished heritage of the “Bajaj” brand.
- It is the second-largest housing finance company (HFC), with strong growth driven by a diversified portfolio. Moreover, it has access to diversified and cost-effective borrowing sources.
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Risks
- If the company cannot recover the collateral value of sums due to defaulted loans, it could affect the business, cash flow and financial condition.
- If the company fails to meet the requirements set by the Reserve Bank of India, it could significantly impact its business operations, financial results, cash flow, and overall financial health.
How to check your allotment status for Bajaj Housing Finance IPO:
If you have invested in the Bajaj Housing Finance IPO, you can check your allotment status on the official registrar website or the BSE. Follow the steps given below:
- Open the link to the registrar using this URL (https://evault.kfintech.com/ipostatus/).
- Select the company from the dropdown box.
- Enter details such as PAN, Application number or DP client ID.
- Click on the ‘Submit’ button.
- Allotment status can be seen on the screen.
Here’s how you can check Bajaj Housing Finance IPO allotment status on BSE.
- Open the Bombay Stock Exchange (BSE) Website.
- Click on ‘Investors.’
- From the dropdown menu, click on ‘Status of Issue Application’.
- Click on ‘Application Status Check’ and select ‘Equity’ in the issue type.
- Fill in the details and click on Search to view the status.
The Bajaj Housing Finance IPO was highly successful due to several factors. First, it attracted immense investor interest, as shown by its impressive subscription rate of 67.4 times, meaning demand far exceeded the shares available. The grey market premium was also very high, reflecting strong confidence in the IPO’s potential.
With the company’s strong financial performance and consistent growth in both revenue & profit, investors were further encouraged by the company’s association with the trusted Bajaj Group, which boosted its credibility. Additionally, the IPO was priced fairly, making it an appealing investment and increasing investor confidence and demand.
Summary
The Bajaj Housing Finance IPO, which closed on September 11, 2024, received an overwhelming response with 8.9 million applications, breaking the previous record set by Tata Technologies. The IPO saw a subscription rate of 67.4 times, driven by strong investor interest due to the company’s consistent growth, solid financial performance, and its association with the trusted Bajaj Group. The listing is set for September 16 on the NSE and BSE. The IPO was priced attractively, further boosting demand.
