Bajaj Housing Finance IPO Highlights: Issue subscribed 63.55 times on day 3, QIBs bid highest
11 min read . Updated: 11 Sep 2024, 05:46 PM IST
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PremiumBajaj Housing Finance Limited launched its initial public offering (IPO) on September 9, aiming to raise ₹6,560 crore. The issue, which will close on September 11, has set a price band between ₹66-70. The company has already secured ₹1,758 crore from anchor investors and has reserved specific portions for various investor categories, including a special quota for shareholders.
The IPO was subscribed 2.26 times by the end of Day 1 and 8.08 times by the end of Day 2
The IPO consists of a fresh issue of 50.86 crore shares, aggregating to ₹3,560 crore, and an offer for sale of 42.86 crore shares, totaling ₹3,000 crore. The proceeds from the fresh issue will be used to strengthen the company's capital base to support future lending operations.
Retail investors can apply with a minimum lot size of 214 shares, requiring an investment of ₹14,980. In terms of allocation, 50% of the shares in the public issue are reserved for qualified institutional buyers (QIBs), 15% for non-institutional investors (NIIs), and at least 35% is earmarked for retail investors.
The allotment for the IPO is expected to be finalized on Thursday, September 12, 2024, with a tentative listing date on the BSE and NSE set for Monday, September 16, 2024.
