Bajaj Housing Finance IPO Sees Massive 7.51x Subscription on Day 2; NIIs Dominate, GMP Soars – All You Need to Know!

Bajaj Housing Finance’s IPO, which opened for subscription on September 9, has been subscribed 7.51 times by the second day. The IPO will close on September 11.

Since September 2015, Bajaj Housing Finance has been registered as a non-deposit taking housing finance company under the National Housing Bank. It offers financial solutions for purchasing and renovating residential and commercial properties.

The Reserve Bank of India (RBI) has classified Bajaj Housing Finance as an “upper layer” non-bank financial institution (NBFC). The company provides a variety of mortgage products, including home loans, loans secured by property, lease rental discounting, and financing for developers.

Bajaj Housing Finance IPO Subscription

On the second day of the subscription, Bajaj Housing Finance’s IPO was subscribed 7.51 times, based on data from the BSE.

The portion for retail investors was subscribed 3.84 times, while non-institutional investors subscribed 16.46 times their portion. The qualified institutional buyers (QIBs) subscribed 7.46 times their allocated portion. Employees subscribed 97%, and the shareholders’ portion was oversubscribed by 9.55 times.

On the first day, the IPO was subscribed 2.02 times, with retail investors subscribing 1.51 times and non-institutional investors subscribing 4.35 times. QIBs subscribed 1.07 times their portion, employees subscribed 32%, and shareholders subscribed 2.90 times.

Bajaj Housing Finance IPO Details

The total size of the IPO is ₹6,560 crores, which includes a fresh issue of 50.86 crore shares worth ₹3,560 crores and an offer for sale of 42.86 crore shares, amounting to ₹3,000 crores.

The price band for the IPO is set between ₹66 and ₹70 per share, with a face value of ₹10.

This IPO will help Bajaj Housing Finance meet the RBI’s requirement that “upper layer” NBFCs list on stock exchanges by September 2025. The funds raised will be used to strengthen the company’s capital base to support future growth.

The book-running lead managers for the IPO are Axis Capital, Goldman Sachs, SBI Capital Markets, JM Financial, IIFL Securities, and Kotak Mahindra Capital.

Bajaj Housing Finance IPO GMP (Grey Market Premium)

The current Grey Market Premium (GMP) for Bajaj Housing Finance IPO is +68. This means that in the grey market, the shares are trading at a ₹68 premium over the issue price.

Based on the upper end of the IPO price band and the GMP, the shares are estimated to list at ₹138 each, which is a 97.14% increase from the IPO price of ₹70.