Bajaj Housing Finance IPO Subscription Status: Subscribed 2.26 Times, Strong GMP of ₹64 as of September 9, 2024

 

The much-anticipated Bajaj Housing Finance IPO has garnered significant investor interest, with the public issue being subscribed 2.26 times by the end of September 9, 2024, at 7:02:07 PM. The IPO has seen robust demand across all investor categories, and the latest Grey Market Premium (GMP) indicates strong listing expectations.

Grey Market Premium (GMP) Update:

As of September 9, 2024, 9:00 PM, the last reported GMP for Bajaj Housing Finance IPO is ₹64. This premium, combined with the IPO’s upper price band of ₹70, leads to an estimated listing price of ₹134 per share. This represents a potential gain of 91.43% over the issue price, highlighting strong positive sentiment among investors in the unofficial market.

Breakdown of Subscriptions by Category:

• Retail Investors: Subscribed 1.79 times. Retail investors bid for 52.35 crore shares against the 29.30 crore shares offered, with a total bid amount of ₹3,664.94 crore.

• Qualified Institutional Buyers (QIB): Subscribed 1.14 times, with bids for 19.04 crore shares against the 16.74 crore shares offered. The total bid amount for QIBs was ₹1,333.05 crore.

• Non-Institutional Investors (NII): The NII category experienced the highest demand, being subscribed 4.71 times. Investors in this category bid for 59.14 crore shares against the 12.55 crore shares offered, amounting to a bid total of ₹4,140.18 crore.

  • Large NII (bNII): Subscribed 4.77 times for bids above ₹10 lakh.
  • Small NII (sNII): Subscribed 4.59 times for bids below ₹10 lakh.

• Anchor Investors: Received a full subscription with 25.11 crore shares allocated, with a total bid amount of ₹1,758 crore.

• Employee Category: Subscribed 0.38 times, with 1.08 crore shares bid for against 2.85 crore shares offered.

• Others: Subscribed 3.29 times, with 23.47 crore shares bid against 7.14 crore shares offered, totaling ₹1,643.23 crore.

Total Subscription Overview:

The total number of shares bid for across all categories reached 155.10 crore against the 68.60 crore shares offered, translating into a subscription rate of 2.26 times. The total bid amount for the IPO is ₹10,857.27 crore.

With a strong subscription response and a significant GMP of ₹64, Bajaj Housing Finance’s IPO is expected to deliver solid listing gains. Investors are optimistic about the company's potential performance on the stock market, with an estimated 91.43% gain expected on listing day.