Bajaj Housing Finance IPO: Grey Market Premium (GMP) Soars After Subscription Date Announcement!
Bajaj Housing Finance IPO: Big Opportunity for Investors!
The buzz around the upcoming Bajaj Housing Finance IPO is real, folks! Set to hit the market on September 9th, 2024, this IPO is already making waves with a strong grey market premium (GMP) of ₹61, up from ₹56 just a day ago. If you own Bajaj Finance or Bajaj Finserv shares, you’re in luck—you qualify for the shareholders’ quota! Read on to catch all the essential details.
What’s the Hype About Bajaj Housing Finance IPO?
Grey Market Premium (GMP) on the Rise!
The grey market is loving Bajaj Housing Finance! The GMP has jumped by 45% in just two days, showing bullish sentiment. Market observers say that this positive trend might continue once the company reveals its IPO price band, expected in a day or two.
IPO Dates and Subscription Details
Mark your calendars! The Bajaj Housing Finance IPO will open for subscription from September 9th to September 11th, 2024. The likely allotment date is September 12th, with listing expected on September 16th. This IPO is set to be one of the largest of the year, alongside Ola Electric Mobility and Bharti Hexacom.
All You Need to Know About Bajaj Housing Finance IPO
Shareholders’ Quota: Are You Eligible?
If you held Bajaj Finance or Bajaj Finserv shares by the end of last week’s Friday session, you’re eligible to apply under the shareholders’ quota. This is a golden chance for existing investors to get in early!
IPO Size and Structure
Bajaj Housing Finance is raising a whopping ₹6,560 crore through this IPO. This includes a fresh issue of ₹3,560 crore and an Offer for Sale (OFS) of ₹3,000 crore. The price band is set between ₹66-70 per share, and the minimum lot size is 214 shares. Retail investors can start bidding from ₹14,980.
Why Invest in Bajaj Housing Finance?
Financial Strength and Growth
As India’s second-largest housing finance company, Bajaj Housing Finance has impressive financials. For the quarter ending June 30, 2024, the company reported a revenue of ₹22,086.5 crore and a profit after tax of ₹4,826.1 crore. With strong growth and robust financials, the company aims to use the IPO proceeds to boost its capital base for future business needs.
Key Dates to Remember
- Subscription Period: September 9th – 11th, 2024
- Allotment Date: September 12th, 2024
- Listing Date: September 16th, 2024
The Bottom Line: Should You Apply?
Bajaj Housing Finance is a solid company with a strong track record and a bright future. With the grey market already showing high demand, this could be a great investment opportunity. Keep an eye on the price band announcement, and if you’re eligible under the shareholders’ quota, don’t miss out!
(Disclaimer: This is not financial advice. Please do your own research before investing.)
