Bajaj Housing Finance IPO Day 3: Oversubscribed! Check GMP, Latest Subscription Status, and Key Details Before You Miss Out

Bajaj Housing Finance IPO is seeing strong demand, with the issue being heavily oversubscribed as it reaches its final day today, September 11. The company opened its IPO for subscription on September 9 and plans to raise ₹6,560 crore to strengthen its capital base for future business needs.

Bajaj Housing Finance is a non-deposit housing finance company, fully owned by Bajaj Finance, and it offers mortgage loans. The IPO includes a fresh issue of 50.86 crore shares worth ₹3,560 crore and an offer for sale of 42.86 crore shares, worth ₹3,000 crore. The price range for the shares is set between ₹66 and ₹70 per share.

IPO Subscription Status

As of Wednesday morning, the IPO has been subscribed 16.22 times. Retail investors have subscribed 5.42 times, Qualified Institutional Buyers (QIBs) have subscribed 31.84 times, and Non-Institutional Investors (NIIs) have subscribed 25.77 times.

Grey Market Premium (GMP)

In the grey market, Bajaj Housing Finance shares are trading at a premium of ₹70 per share. This means that in the grey market, the shares are priced at ₹140, which is 100% higher than the issue price of ₹70 per share.

Should You Apply for Bajaj Housing Finance IPO?

Bajaj Housing Finance is the largest non-deposit housing finance company promoted by Bajaj Finance, with an assets under management (AUM) of ₹97,100 crore as of Q1FY25. Its AUM has grown at an annual rate of 30.9% from FY22 to FY24. It is also the fourth fastest-growing non-banking financial company (NBFC) in the upper layer, according to RBI.

Analysts are positive about the company’s future prospects. BP Equities has given the IPO a “Subscribe” rating, citing its strong credit and risk management. LKP Securities has also recommended subscribing to the IPO, saying that the company’s strong return ratios make it a valuable investment. Emkay Global Financial Services noted that the company’s valuation, compared to peers like LIC Housing Finance, PNB Housing Finance, and Can Fin Homes, is attractive given its growth and strong presence in the housing finance sector.