Bajaj Housing Finance Shares Dip 4.50% After Two-Day Rally
Shares of Bajaj Housing Finance Ltd declined over 4.50% on Wednesday after a two-day sharp rally, with its market valuation eroding by Rs 6,487.63 crore.
Bajaj Housing FinanceSharesStock MarketIpoNbfcReal Estate NewsSep 18, 2024
On the NSE, shares of the firm ended lower by 4.57% to close at Rs 173.19. Its market valuation also eroded by Rs 6,487.63 crore to Rs 1,44,651.58 crore.
Shares of Bajaj Housing Finance Ltd made a solid market debut on Monday and ended with a huge premium of nearly 136% against the issue price of Rs 70. The stock was listed at Rs 150 on the BSE and the NSE, reflecting a jump of 114.28% from the issue price.
Shares of the newly listed firm had on Tuesday surged 10% to hit the upper circuit limit, extending the listing day gains. The stock had upper circuit limit on Monday also.
The Rs 6,560-crore initial public offering (IPO) of Bajaj Housing Finance Ltd received 63.60 times subscription on September 11, the last day of bidding, amid overwhelming participation from institutional buyers.
The initial share sale had a price band for the offer at Rs 66-70 per share. The IPO had a fresh issue of equity shares of up to Rs 3,560 crore and an offer-for-sale (OFS) of equity shares worth Rs 3,000 crore by parent Bajaj Finance.
Bajaj Housing Finance Ltd is a non-deposit-taking housing finance company registered with the National Housing Bank in September 2015. The firm offers financial solutions for purchasing and renovating residential and commercial properties.
Frequently Asked Questions
What is the current market valuation of Bajaj Housing Finance Ltd?
The current market valuation of Bajaj Housing Finance Ltd is Rs 1,44,651.58 crore.
What is the issue price of Bajaj Housing Finance Ltd's IPO?
The issue price of Bajaj Housing Finance Ltd's IPO is Rs 70.
What is the price band for the offer of Bajaj Housing Finance Ltd's IPO?
The price band for the offer of Bajaj Housing Finance Ltd's IPO is Rs 66-70 per share.
What is the size of Bajaj Housing Finance Ltd's IPO?
The size of Bajaj Housing Finance Ltd's IPO is Rs 6,560 crore.
What is the subscription status of Bajaj Housing Finance Ltd's IPO?
The IPO of Bajaj Housing Finance Ltd received 63.60 times subscription on September 11, the last day of bidding.
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