Bajaj Housing Finance IPO Date Today; GMP, Experts Flag Multiple Gains for Allocated Shares

Bajaj Housing Finance IPO Listing: Shares of Bajaj Housing Finance are set to debut on the Indian stock market today. After receiving record number of subscriptions for its initial public offering (IPO), shares of Bajaj Housing Finance will be listed on the BSE and NSE today.

The IPO date of Bajaj Housing Finance is today, September 15. The IPO was open from September 9 to 11 and the allotment of shares under the IPO was set for September 12.

“We hereby inform the Members of the Stock Exchange that with effect from Monday, September 16, 2024, the ordinary shares of Bajaj Housing Finance Limited will be listed and admitted to trading on the Stock Exchange in the ‘B’ Group Securities List,” reads the notice on the BSE.

Today, Bajaj Housing Finance stock will be part of the Special Pre-Opening Session (SPOS) and trading in Bajaj Housing Finance stock will commence at 10:00 AM.

Bajaj Housing Finance IPO GMP today, or the grey market premium today, ahead of the listing signals a strong debut for the stock. Stock analysts are also predicting a decent listing for Bajaj Housing Finance IPO today. Considering all the aspects, the Bajaj Housing Finance stock is estimated to be trading at a premium of over 100%, which is likely to double the investors’ money post listing.

Here’s what GMP and Bajaj Housing Finance IPO experts say about the Bajaj Housing Finance share price:

Bajaj Housing Finance IPO GMP Today

Bajaj Housing Finance share price is decent in the unlisted market. According to stock market experts, today’s value of Bajaj Housing Finance GMP IPO is ₹78 per share. This means that Bajaj Housing Finance shares are trading higher by ₹82 on the grey market compared to the issue price.

Bajaj Housing Finance IPO Price

Considering today’s Bajaj Housing Finance GMP pre-listing and issue price, the estimated listing price of Bajaj Housing Finance IPO is ₹148 per share, which is a premium of 112% over the IPO price ₹70 per share.

“Bajaj Housing Finance Ltd has seen extraordinary demand for its offering with subscription rate crossing 67 times. We are anticipating a strong debut on the bourses on Monday with an expected premium of 107% over the upper band price,” said Prathamesh Masdekar, Research Analyst at StoxBox.

The company has delivered solid results thanks to a strategic focus on increasing direct mortgage lending and increasing average deal size across its product suite. These measures have improved the Opex/Asset ratio in recent years. In addition, a strategic shift in AUM and product mix has mitigated the negative impact of rising funding costs on portfolio spreads, Masdekar noted.

“We therefore recommend investors who have been allocated shares to maintain their position for the medium to long term,” he added.

Prashanth Tapse, Senior Vice President – ​​Research and Research Analyst, Mehta Equities Ltd, feels that the Bajaj Housing Finance IPO provides select investors with an opportunity to invest in one of the leading players in the Indian housing finance sector.

“Considering the strong parent brand of the company “BAJAJ” and its solid position in the housing finance sector, ₹97,071 crore AUM, which is well positioned to capitalize on industry demand and assuming it delivers impressive growth going forward like historic CAGR of 30.9% in AUM from FY22 to FY24, we expect the IPO to have a solid debut and the company’s price tag could double the allotted wealth of investors or even more than that on the day of listing,” Tapse said.

After the company’s listing, he advises conservative investors to take profits if the listing gains exceed his expectations, while long-term investors can continue investing in the stock expecting long-term growth as the sector’s prospects remain very optimistic due to the company’s well-positioned business model.

In case of valuation ₹70 per share, the issue was market capitalization ₹58,297 crore, based on a valuation that was very similar to that of other listed companies trading at the industry average.

“Considering all the attributes, we strongly recommend allocated long-term investors to ‘hold’ this investment for the long term,” Tapse added.

Bajaj Housing Finance IPO Details

The subscriptions for the Bajaj Housing Finance IPO began on September 9 and closed on September 11. The allotment of shares under the IPO was finalised on September 12 and the IPO date for Bajaj Housing Finance is today, Monday, September 16.

The share price of Bajaj Housing Finance IPO was set at ₹66 to ₹70 per share. The company collected ₹6,560.00 crore from the book-based issue which was a combination of fresh issue of 50.86 crore equity shares ₹3,560 crore and Offer for Sale (OFS) of 42.86 crore shares in total ₹3000 crores.

Bajaj Housing Finance IPO sets new record with subscriptions exceeding ₹3 lakh crore. The IPO was subscribed 63.61 times, receiving bids for over 4,628 crore equity shares, as against 72.75 crore shares on offer. At the upper end of the price band, applications for Bajaj Housing Finance shares were priced at almost ₹3.24 lakh crores.

Kotak Mahindra Capital Company Ltd, BofA Securities India Ltd, Axis Capital, Goldman Sachs (India) Securities, SBI Capital Markets, JM Financial and IIFL Securities are the lead book-running managers for Bajaj Housing Finance IPO while Kfin Technologies is the IPO registrar.

Disclaimer: The views and recommendations presented above are those of the individual analysts or brokerage firms and not Mint. We recommend that investors consult certified experts before making any investment decisions.