Bajaj Housing Finance IPO subscribed over 14 times on last day; GMP soars to 96%
Bajaj Housing Finance was subscribed 14.05 times on the third and the last day of bidding on Wednesday, led by strong demand from non-institutional investors (NIIs) and qualified institutional buyers (QIBs). On day two, the issue was subscribed 7.5 times.
At 11:30 am, the issue attracted bids for 10,22,02,27,408 shares, or 14.05 times against the issue size of 72,75,75,756 shares. The retail portion was subscribed 5.35 times, while non-institutional investors subscribed 25.2 times. The qualified institutional buyers’ allocation was booked 23.5 times, and the shareholder reservation portion saw 12.76 times subscription.
Also Read: Tata Motors shares plunge 6% on weak growth outlook, UBS downgrade
In the unlisted market, Bajaj Housing Finance's shares are trading at a premium of Rs 67-69, exceeding the previous day's GMP of Rs 63-64. The current GMP translates to a 96% premium over the issue price.
Ahead of the issue opening, the company has raised Rs 1,758 crore from marquee anchor investors, including JP Morgan, Morgan Stanley, Nomura, and HDFC Mutual Fund.
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