Bajaj Housing Finance debuts at Rs 150 with premium of 114 pc over issue price

Mumbai, Sep 16 (IANS) Shares of the Bajaj Housing Finance Limited listed on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) at Rs 150 per share each with a premium of 114 per cent against its issue price of Rs 70 per share.

Bajaj Group's housing finance arm became the most demanding IPO this year. Its public issue was subscribed 63.61 times on its final day. Reserve quota for the Institutional investors subscribed the most more than 200 times.

Bajaj Housing Finance's public issue size was Rs 6,560 crore but it had a subscription worth Rs 3.23 lakh crore.

This offer for sale (OFS) of Bajaj Housing Finance was a mixture of fresh issues. There was an OFS of Rs 3,560 crore and a fresh issue of Rs 3,000 crore. The money raised under OFS goes directly to the promoters of the company. The money raised under the fresh issue goes to the company.

According to the exchange, Bajaj Housing Finance IPO -- institutional quota subscribed 209.36 times, non-institutional quota subscribed 41.36 times, retail quota subscribed 7.04 times, employee quota subscribed 2.05 times and reservation portion for shareholder subscribed 17.53 times.

Bajaj Housing Finance IPO opened between September 9 - September 11 with a price of Rs 66 (lower end) to Rs 70 (higher end).

Bajaj Housing Finance Limited is a housing finance arm of the Bajaj Group. The company provides loans to upper-end individual homebuyers as well as large-scale developers in India. The company has 215 branches across India as of June 30.

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In an early trading session, Sensex and Nifty both made a new all-time high of 83,184 and 24,445.

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