The initial public offering (IPO) of Bajaj Housing Finance has been oversubscribed 55.25 times as of the third day of subscription, today at 3:07 pm.
The retail investor segment received 12.12 times the subscription, while the non-institutional investor quota was subscribed 42.38 times. The portion for qualified institutional buyers (QIBs) saw a massive subscription of 1023.15 times. The employee segment was subscribed 0.19 times, and the shareholders’ portion was subscribed 17.70 times.
Bajaj Housing Finance launched its IPO on September 9, with the goal of raising Rs 6,560 crore. The issue is set to close on September 11, with a price band ranging between Rs 66-70.
Bajaj Housing Finance has already secured Rs 1,758 crore from anchor investors and has allocated specific portions for various investor categories, including a special quota for shareholders.
By the end of Day 1, the IPO was subscribed 2.26 times, and by the end of Day 2, it was subscribed 8.08 times.
The IPO includes a fresh issue of 50.86 crore shares, amounting to Rs 3,560 crore, and an offer for sale of 42.86 crore shares, totaling Rs 3,000 crore. The proceeds from the fresh issue will be used to bolster the company’s capital base to support future lending operations.
Retail investors can participate in the IPO with a minimum investment of Rs 14,980, which equates to 214 shares.
The share allocation is structured as follows:
– 50% for Qualified Institutional Buyers (QIBs)
– 15% for Non-Institutional Investors (NIIs)
– At least 35% for Retail Investors
Key dates to remember:
– Allotment finalization: September 12, 2024 (Thursday)
– Tentative listing date: September 16, 2024 (Monday) on BSE and NSE