At a profit of Rs 55 on a share of Rs 70, this IPO created havoc in the gray market.

New Delhi. Bajaj Housing Finance, a Bajaj Group company, is soon to be listed on the stock market. The company has announced the price band for the Bajaj Housing Finance IPO, which is scheduled to open next week. The company has set a price band of ₹66-₹70 per share for its ₹6,560 crore initial public offering (IPO). Bajaj’s IPO will open for subscription on September 9, while bidding can be done till September 11. The unlisted shares of Bajaj Housing Finance IPO are getting a good response in the gray market and the shares are trading at a premium of Rs 55, or about 80 per cent.

Notably, Bajaj Housing Finance’s IPO has come under Reserve Bank of India (RBI) rules, which stipulate that it must be listed on the market within three years of its listing. is “Upper Layer NBFC”. The deadline for Bajaj Housing Finance was to expire in September 2025. Prior to Bajaj Housing Finance, two Bajaj Group companies, Bajaj Finance and Bajaj Finsar are listed on the stock market.

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IPO Details
Bajaj Housing Finance IPO size is ₹6,560.00 crore. Under this IPO, new shares worth Rs.3,560.00 crore will be issued while 42,85,71,429 shares of face value of Rs.10 will be sold under the offer for sale window. The company will use the proceeds raised through the new shares to increase its capital base.

You have to invest a minimum of Rs 14980.
The company has said that its share price in the IPO will be Rs 66-70. One lot of Bajaj Housing Finance IPO will have 214 shares. This means investors will need at least Rs 14,980 to bid in this IPO of Bajaj. Retail investors will be able to invest a maximum of 13 lots or Rs 1 lakh 94 thousand 740.

Headlines

• IPO Opening Date: September 9-11
• Allotment of Shares: September 12
• Date of Listing: September 16 (BSE & NSE)
• Issue Registrar: Shroud Tech
• customer: 3,08,693 active users as of March 2024.
• Net Profit: 482.61 crore in the first quarter of the current financial year.

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Tags: business news, IPO, Money making tips, Stock market