Paras Bisht | September 11, 2024 | 17:41 IST
The Bajaj Housing Finance IPO has seen a remarkable response, concluding with an oversubscription of 63.54 times. The issue has surpassed ₹3 lakh crore in total subscription amount, reflecting strong demand from institutional and high-net-worth investors.
Subscription Overview:
On the final day of bidding, which ended today (September 11), the IPO received bids for more than 4,622 crore shares, compared to the 72.75 crore shares on offer. This subscription surge places the total bid amount well over ₹3 lakh crore. For context, only Coal India Ltd (2008) and Mundra Port (2007) IPOs have previously surpassed ₹2 lakh crore in subscription amounts.
Subscription Breakdown:
- Non-Institutional Investors: Subscribed 41.42 times
- Qualified Institutional Buyers (QIBs): Subscribed 209.36 times
- Retail Individual Investors (RIIs): Subscribed 6.92 times
The IPO’s performance was notable across all investor categories, with non-institutional investors subscribing 41.42 times, QIBs at a staggering 209.36 times, and RIIs at 6.92 times.
IPO Highlights:
The IPO initially opened for bidding on Monday and was fully subscribed within hours. By the end of the second day (Tuesday), it had already received a subscription of 7.51 times. Bajaj Housing Finance also collected ₹1,758 crore from anchor investors prior to the public offering.
On the last day, the Grey Market Premium (GMP) for Bajaj Housing Finance shares surged, reflecting continued investor enthusiasm. The GMP has risen to over 92 percent, indicating strong market confidence.
As the IPO concludes, all eyes are on whether it will hit the ₹1 lakh crore subscription mark, a milestone yet to be achieved.
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