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Bajaj Housing Finance IPO subscription breaks Tata Tech's record with…
Bajaj Housing Finance Limited’s (BHFL) initial public offering (IPO) has surged to unprecedented heights, eclipsing the previous record set by Tata Technologies. The IPO, which opened to the public earlier this week, has seen bids exceeding a staggering Rs 3.2 lakh crore, setting a new benchmark in the Indian capital markets.
Updated : Sep 12, 2024, 04:45 PM IST
 "Bajaj Housing Finance IPO breaks Tata Tech's record")
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Bajaj Housing Finance Limited’s (BHFL) initial public offering (IPO) has surged to unprecedented heights, eclipsing the previous record set by Tata Technologies. The IPO, which opened to the public earlier this week, has seen bids exceeding a staggering Rs 3.2 lakh crore, setting a new benchmark in the Indian capital markets.
The excitement surrounding the BHFL IPO is palpable, with the issue being oversubscribed 67 times by the end of the third day. This level of enthusiasm underscores a significant appetite among investors, both institutional and retail. The retail portion alone was subscribed more than seven times, reflecting strong public interest. Qualified institutional buyers (QIBs) showed remarkable enthusiasm, with their subscription reaching an astounding 222 times the allocated shares. Meanwhile, non-institutional investors also displayed robust engagement, booking nearly 44 times the shares set aside for them.
The IPO aims to raise a total of Rs 6,560 crore, with a price band set between Rs 66 and Rs 70 per share. It comprises a fresh issue of 50.86 crore shares worth Rs 3,560 crore and an offer for sale of 42.86 crore shares valued at Rs 3,000 crore. The fresh issue’s proceeds are intended to bolster BHFL’s capital base, thereby supporting its future lending operations and expansion plans.
Headquartered in Pune, BHFL offers a wide range of financial products, including home and commercial space financing, loans against property, and working capital for business growth. The company also provides financing for property developers and lease rental discounting services to high-net-worth individuals.
The IPO’s subscription frenzy highlights the growing confidence in BHFL’s prospects and its strategic role in the housing finance sector. With the allotment process expected to be finalised this Thursday and the tentative listing scheduled for Monday, market participants are keenly awaiting the next steps in this high-stakes financial event.
As the countdown to the listing begins, the record-breaking demand for BHFL’s shares is setting new standards for IPOs in India, reflecting both investor confidence and the evolving dynamics of the financial market.
