Bajaj Housing Finance, one of the oldest companies in the country, which was listed in the stock market on Monday, performed very well. The number of investors investing in the company’s shares doubled as soon as it was listed on BSE and NSE. Now on the second day of listing, today, Tuesday, the financial stock has seen a rocket-like rise, rising more than 8% within a few minutes of opening.
First the money doubled, now the boom is like a storm
Bajaj Housing Finance Share was listed on the stock market on Monday. The listing premium was 114.29% compared to the price range. The stock, which was priced at Rs 70, was listed for the first time at Rs 150. Not only that, the stock price rose sharply after listing, with a surge of 10% on the first day. Bajaj Housing’s share price continued to surge on Tuesday, and the company’s share price is currently up more than 8%.
Share price crosses Rs 181
When the stock market started trading on Tuesday, the share price of Bajaj Housing Finance opened at Rs 175.50 and reached a high of Rs 181.50 within minutes of trading. The company’s IPO has received a strong response from investors and is creating a buzz in the grey market. Experts also seem to be bullish on it and predict that its listing will be very smooth.
When will this IPO open?
After raising huge funds from anchor investors, Bajaj Housing IPO was opened to retail investors on September 9 and investors bid till September 11. The total size of the IPO was Rs 656 crore and the issue price range was fixed at Rs 66 to 70. In the IPO of Bajaj Housing Finance, the company issued 50.86 billion shares worth Rs 356 crore through new issue and 42.86 shares worth Rs 300 crore through offer for sale.
It caused a huge response
Bajaj Housing Finance’s IPO has received a huge response. On the last day of subscription, people invested a lot of money in this IPO. The QIB category was filled up to 222 times, NII category was filled up to 43.92 times, while the retail segment was filled up to about 7.32 times. The overall IPO was subscribed 67.37 times.
(Note- Always take advice from market experts before making any type of investment in the stock market.)
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