Bajaj Housing Finance Shares Soar 10% on Market Debut
Bajaj Housing Finance shares surged 10% to hit the upper circuit limit, extending the listing day gains.
Bajaj Housing FinanceIpoMarket DebutHousing Finance CompanyNational Housing BankRbiReal Estate NewsSep 17, 2024
On the NSE, shares of the firm surged 10% to Rs 181.50 -- the highest trading permissible limit for the day. The company's market valuation climbed Rs 13,733.12 crore to Rs 1,51,139.21 crore. The stock has surged 159.28% from its issue price of Rs 70.
Bajaj Housing Finance Ltd remained the most valued housing finance company in the country. Housing & Urban Development Corporation stood at the second position with a market valuation of Rs 49,056.56 crore, followed by LIC Housing Finance at Rs 37,239.27 crore.
The Rs 6,560-crore initial public offer 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.
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 was the issue price of Bajaj Housing Finance Ltd's IPO?
Rs 70
How much did the company's market valuation climb on the first day of trading?
Rs 13,733.12 crore
What is the market capitalization of Bajaj Housing Finance Ltd?
Rs 1,51,139.21 crore
What is the name of the parent company of Bajaj Housing Finance Ltd?
Bajaj Finance Ltd
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