Today is the last day of Bajaj Housing Finance IPO, check the update
Today, Thursday, September 11, is the penultimate day of bidding for Bajaj Housing Finance’s massive initial public offering (IPO), which saw a record-breaking subscription over the previous two days. Investors will be watching to see whether the IPO concludes with a total subscription of Rs 1 lakh crore today, because demand for the public half of the offer has already surpassed Rs 38,000 crore.
By the conclusion of Day 2 of bidding yesterday, the Rs 6,560-crore public issue of Bajaj Housing Finance has already been subscribed over 7.5 times, mostly due to the non-institutional investors’ (NII) ongoing strong demand. Qualified institutional buyers (QIBs), who have already subscribed 7.46 times their reserved part of the Bajaj Housing Finance IPO, will be the focus of attention today.
Day 2 saw 16.45 times subscription for the Bajaj Housing Finance IPO’s non-institutional investors (NII) quota, demonstrating the strong demand. The qualified institutional buyer (QIB) category attracted subscriptions 7.46 times more than the retail individual investor (RII) quota, which was subscribed 3.83 times.
Within four hours of the bidding opening on Day 1 (Monday, September 9), the Bajaj Housing Finance IPO was fully subscribed, and by the end of the day, it had received twice as many bids.
Out of the Rs 6,560 crore total issue size, Bajaj Housing Finance was able to successfully acquire Rs 1,758 crore from anchor investors last week, leaving Rs 4,802 crore available for public subscription. The total subscription amount might exceed Rs 1 lakh crore if the public component of the issuance is subscribed at least 21 times.
IPOs in the past with bids exceeding Rs 1 lakh crore
More than Rs 1.48 lakh crore in bids were received for Premier Energies Ltd.’s Rs 2,830-crore IPO (initial public offering) in August 2024. Prior to this, bids of Rs 1.56 lakh crore were received for Tata Technologies’ Rs 3,042-crore initial public offering (IPO) in November 2023. With 4.5 crore shares on sale, 312 crore shares were bid for during Tata Tech’s IPO.
In the past, during its four-day bidding procedure in 2008, Coal India’s Rs 15,200-crore initial public offering (IPO) raised Rs 2.33 lakh crore.
Today’s newest GMP for Bajaj Housing Finance’s IPO
The GMP (gray market premium) for the Bajaj Housing Finance IPO has increased to over Rs 60 in the unlisted market, indicating a premium of over 85% because of the company’s high demand, according to a few websites that watch grey market activity.
Investors monitor the GMP attentively in order to assess the mood of the market about listing expectations for an initial public offering (IPO). It’s possible that investors are prepared to spend far more than the IPO issue price in order to own stock in Bajaj Housing Finance given this noticeable premium on the grey market.
