Bajaj Housing Finance IPO Allotment and GMP Updates

The allotment of shares for Bajaj Housing Finance’s highly anticipated IPO is set to be finalized today, September 12, 2024. Investors who have bid for this IPO will soon know whether they've been allotted shares. Notifications regarding share allotment will be sent via SMS, email, or banking apps, with updates expected by Friday or over the weekend.

Buzz Around Bajaj Housing Finance IPO

Bajaj Housing Finance, founded in 2008, is a non-deposit-taking housing finance company registered with the National Housing Bank. The company’s Rs 6,560-crore IPO has been one of the most talked-about public issues of the year, and here’s why:

• Issue Size: Rs 6,560 crore (comprising a fresh issue of Rs 3,560 crore and an offer-for-sale of Rs 3,000 crore by Bajaj Finance Ltd)
• Price Band: Rs 66-70 per share
• Lot Size: Investors were required to apply for a minimum of 214 shares

Subscription Details

The issue was subscribed a whopping 63.61 times, with different categories of investors showing significant interest:

• Qualified Institutional Buyers (QIBs): Subscribed 209.36 times
• Non-Institutional Investors (NIIs): Subscribed 41.51 times
• Retail Investors: Subscribed 7.04 times

Record-Breaking Investor Demand

Bajaj Housing Finance’s IPO attracted bids worth a jaw-dropping Rs 3.24 lakh crore, making it the first Indian IPO to cross Rs 3 lakh crore in bids. The bulk of this interest came from institutional investors, with the QIB portion alone seeing bids worth more than Rs 2.60 lakh crore for the 17.75 million shares allocated to them. This massive demand highlights the strong confidence in Bajaj Housing Finance's business model, growth potential, and its status as part of the respected Bajaj Group.

Latest Grey Market Premium (GMP)

Following the overwhelming response, the Grey Market Premium (GMP) for the IPO surged. As of September 12, 2024, the latest GMP stands at Rs 78 per share. Based on this premium, the projected listing price is expected to be around Rs 148, offering investors a potential return of 111% from the issue’s upper price band of Rs 70.

How to Check Your IPO Allotment Status

If you’ve applied for the Bajaj Housing Finance IPO, you can check your allotment status online in a few simple steps:

Through the BSE Website:

1. Visit the BSE allotment status page
2. Select Equity as the issue type.
3. Choose Bajaj Housing Finance Ltd from the dropdown list.
4. Enter your application number and PAN card details.
5. Complete the CAPTCHA and click Submit.

Through the KFin Technologies Website:

1. Visit KFin Technologies’ allotment status portal
2. Select Bajaj Housing Finance Ltd from the dropdown.
3. Choose how you wish to check the allotment (via Application Number, Demat Account, or PAN).
4. Enter the relevant details and security CAPTCHA.
5. Click Submit to view your allotment status.

What’s Next?

The shares of Bajaj Housing Finance are scheduled to be listed on both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) on Monday, September 16, 2024. Investors are expecting a strong listing, hoping for substantial gains given the record-breaking demand and positive Grey Market sentiment.

Brokerages like Chola Securities, IDBI Capital, and Reliance Securities have given the IPO a 'Subscribe' recommendation, citing Bajaj Housing Finance’s robust financials, its solid backing from the Bajaj Group, and its promising growth potential in the housing finance sector. However, some caution remains around the company's asset concentration in real estate.

Conclusion

This IPO could provide investors with a significant return if the shares debut at the anticipated premium price. Stay tuned for more updates on the listing and further developments.