Bajaj Housing Finance IPO Subscription Status: The public offering of the HFC (housing finance company) continues to attract bids from investors. On the second day of bidding, the mega-IPO saw a subscription rate of 7.50 times. The non-institutional investors' portion was oversubscribed by 16.45 times, while the Qualified Institutional Buyers (QIBs) segment was subscribed 7.46 times. The retail investor category subscribed 3.83 times their allotted quota.
The bidding for the public issue had started on September 9 (Monday) and was fully subscribed within just a few hours. The price band of the issue is fixed between Rs 66 and Rs 70 per share.
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Meanwhile, the company has already raised Rs 1,758 crore from anchor investors. On the very first day of bidding the IPO was oversubscribed by nearly by 2.26 times.
The IPO has also received a 'subscribe' call from almost all brokerage houses. Well-known players on the D-street like Motilal Oswal, Anand Rathi and Nirmal Bang Securities are among the prominent names giving the green light to investors.
What does the GMP of Bajaj Housing Finance indicate?
At 11:45 am, the shares of the Bajaj Housing Finance IPO were trading at a grey market premium (GMP) of Rs 69.5, commanding a premium of a whopping 99 per cent, as per GMP checking websites.
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GMP refers to the price at which the shares of the company trade before hitting the official market.
The bidding for the public issue will close today evening, at around 4:50 pm, and the listing date is finalised for September 16 (Monday).
This week has been quite busy for the primary market as a large number of IPOs have/will be opening for subscription. While the demand for IPOs continues to be robust, investors are always advised to take a decisive call after doing their due diligence.
