Bajaj Housing Finance IPO fully booked within hours of opening

Bajaj Housing Finance IPO: Bajaj Housing Finance share sale via initial public offering (IPO) was fully booked within hours of opening on the first day of the issue. Bajaj Housing Finance shares were in very high demand among high-net worth individuals which fall under the category of Non-Institutional Investors (NIIs) as the pie set aside for them was booked 2.47 times, data from the National Stock Exchange showed. NIIs placed bids for 10,95,59,868 shares as against 4,43,93,939 shares reserved for them.

Retail individual investors were also seen bidding in large numbers as the portion of shares set aside for them was subscribed 1.03 times. Retail investors placed bids for 32,10,72,118 shares as against 31,07,57,576 shares reserved for them. While the portion of shares set aside for large investors like banks, mutual funds and financial institutions, which fall under the category of Qualified Institutional Buyers (QIBs), was booked 36 per cent.

Bajaj Housing Finance is selling shares in price band of Rs 66-70 per share and is planning to raise Rs 6,560 crore from the IPO which comprises of fresh issue of Rs 3,560 crore and an offer for sale worth Rs 3,000 crore.

A retail investor can place bids for minimum one lot of 214 shares up to maximum of 13 lots. At the upper end of the price band, one lot of Bajaj Housing Finance shares is priced at Rs 14,980.

On Friday, Bajaj Housing Finance said it has collected Rs 1,758 crore from anchor investors, days before its initial share-sale opening for public subscription.

Government of Singapore, Abu Dhabi Investment Authority, Fidelity, Morgan Stanley, Nomura, Goldman Sachs, JP Morgan India Investment Trust Plc, SBI Life Insurance Company, ICICI Prudential Life Insurance Company, HDFC Mutual Fund (MF), Kotak Mahindra MF, SBI MF, UTI MF and Nippon India MF are among the anchor investors.

In the last financial year (FY2023-24), the company reported a profit of Rs 1,731 crore, a 38 per cent uptick from Rs 1,258 crore in FY23.