Bajaj Housing Finance Listing: Stock makes a strong debut, shares list at 114% premium over issue price
After an unprecedented response to the public issue, shares of the company doubled investors money on debut.
The Rs 6,560 crore IPO issue from Bajaj Housing Finance opened for public subscription between September 9 and September 11 made its D-Street debut today. As against the IPO issue price of Rs 70, the stock debuted at Rs 150 per share on both the NSE and BSE, a premium of over 114 per cent.
Post the issue, promoter shareholding in the issue will be reduced to 88.75 per cent.
Bajaj Housing Finance IPO was subscribed 63.61 times as it received bids for more than 4,628 crore equity shares, against the 72.75 crore shares offered.
Zee Business Managing Editor Anil Singhvi advised a 'subscribe' rating to the issue both for good listing gains as well as long term. Also, it is among one of the stocks which should be held in one's portfolio for long term.
Short term investors in the scrip can keep stoploss at Rs 125 to protect gains, advised Singhvi.
About the company
Bajaj Housing Finance was incorporated on June 13, 2008. The company is a non-deposit taking housing finance company, registered with the National Housing Bank and engaged in mortgage lending. It offers financial solutions tailored to individuals and corporate entities for the purchase and renovation of homes and commercial spaces.
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