Bajaj Housing Finance is set to launch its initial public offering (IPO) on Monday, September 9. Ahead of the public issue, the grey market premium (GMP) for the company’s shares stands at Rs 51-52, indicating a potential upside of 73% above the issue price.
The price band for the IPO has been fixed at Rs 66-70 per share.
Promoted by Bajaj Finance and Bajaj Finserv, the company aims to raise Rs 6,560 crore through the IPO. This includes Rs 3,560 crore from fresh equity sales and a Rs 3,000 crore offer for sale (OFS).
As of 11 AM on the opening day, the Bajaj Housing Finance IPO had received bids for over 17.18 crore shares against the 72.76 crore shares on offer across both NSE and BSE.
In terms of subscription, the Non-Institutional Investors (NII) category had received 54% subscription, while the portion allocated for Retail Individual Investors (RIIs) was 29% subscribed.
The IPO has a price band set at Rs 66 to Rs 70 per share. It comprises a fresh issue of equity shares worth up to Rs 3,560 crore and an offer-for-sale (OFS) of equity shares amounting to Rs 3,000 crore by parent company Bajaj Finance.
As of September 9, the shares of Bajaj Housing Finance are commanding a grey market premium (GMP) of around Rs 51 in the unlisted market, indicating a potential premium of 73% above the issue price.
