Bajaj Housing Finance IPO concludes with over Rs 3 lakh crore subscription: Issue booked 63.54x; GMP surges on strong demand

Bajaj Housing Finance provides mortgage loans for both retail and commercial customers.

Bajaj Housing Finance IPO (initial public offering) was subscribed over 63.54 times on the last day of bidding today (11 September), and topped over Rs 3 lakh crore in subscription amount. Strong demand for the issue continues from institutional investors and non-institutional wealthy investors.

The Rs 6,560-crore public issue of Bajaj Housing Finance has got bids for over 4,622 crore shares against 72.75 crore shares on offer, across both BSE and NSE, as of 5 pm. With this, the total bid amount for the public issue has topped over Rs 3 lakh crore, according to back of the envelope calculations. Before this, Coal India Ltd (2008) and Mundra Port (2007) IPOs had topped Rs 2 lakh crore in subscription amounts.

Bajaj Housing Finance IPO: Will the issue hit Rs 1 lakh crore subscription?

Bajaj Housing Finance IPO had received 7.51 times subscription till the end of the Day 2 of bidding on Tuesday. The issue got fully subscribed within hours of opening for bidding on Monday and ended the day with 2 times subscription.

Bajaj Housing Finance on Friday said it has collected Rs 1,758 crore from anchor investors.

Bajaj Housing Finance IPO GMP today price

Bajaj Housing Finance IPO GMP (grey market premium) has risen to around Rs 65 in the unlisted market on the last day of subscription today, showing a premium of over 92 percent due to strong demand for the company's shares.

The IPO has a fresh issue of equity shares of up to Rs 3,560 crore and an offer-for-sale (OFS) of equity shares to the tune of Rs 3,000 crore by parent Bajaj Finance.

The share sale is being conducted to comply with the Reserve Bank of India's (RBI) regulations, which require upper-layer non-banking finance companies to be listed on stock exchanges by September 2025.

Proceeds from the fresh issue will be used to augment the company's capital base to meet future capital requirements.

Disclaimer: The views and investment tips expressed by investment experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.