Bajaj Housing Finance IPO was listed on BSE and NSE on Monday. This IPO of Bajaj Group has made investors double their money as soon as it was listed. Bajaj Housing Finance shares were listed at Rs 150, which is 114.29% higher than the price range.
It was listed at Rs 145 in the grey market, a 107% premium over the price band. But the premium in this IPO is higher than the grey market premium.
Investors doubled their money
This IPO doubled the investors’ money on the first day. A retail investor had to invest Rs 14,980 to buy 214 shares. In this case, assuming that someone got one batch, then Rs 14,980 would convert into Rs 32,057. Of this, the profit would be Rs 17,000.
What is the estimate of GMP?
The Grey Market Premium (GMP) of Bajaj Housing Finance IPO also saw a sharp jump. Its latest GMP price is Rs 75, which is above the upper price band. The upper price limit of the IPO is Rs 70. However, a day before this, the GMP of this IPO showed more than Rs 80.
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. The NII category was filled 43.92 times, while the retail segment was filled about 7.32 times. Overall, the IPO was traded 67.37 times. The IPO raised over Rs 300 crore, while the previous fund raised was Rs 6,500 crore.
Best IPO Response
Bajaj Housing Finance’s IPO received the best response in the qualified institutional buyers (QIB) category this year. Earlier, Tata Technologies’ IPO received 203 subscriptions and Premier Energies’ IPO received 212 subscriptions.
When will this IPO open?
It is worth noting that this IPO is open to retail investors from September 9 to 11, 2024. The total size of Bajaj Housing Finance IPO is Rs 656 crore. Talking about its price range, it is Rs 66 to 70. There are a large number of 214 shares in Bajaj Housing Finance’s IPO that are open to retail investors.
The company issued 50.86 billion equity shares worth Rs 35.6 billion through fresh issue and 42.86 billion equity shares worth Rs 30 billion through offer for sale.
(Note- Before investing in any IPO, please consult your market expert.)
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