Bajaj Housing Finance Listing: Shares Hit Upper Circuit with 135% Premium

Bajaj Housing Finance IPO: The housing finance company made a strong debut on the Dalal street, listing at a premium of nearly 114 per cent. The mega-IPO, valued at Rs 6,560 crore, was trading at Rs 150 per share, above its issue price of Rs 70.

The company continued to attract robust investor interest which was quite visible during the afternoon trading session. The shares of the company were trading at 135 per cent premium.

At 03:05 pm, the shares of the company were trading at Rs 165 price level, up by nearly 135 per cent on the National Stock Exchange.

Bajaj Housing Finance's IPO is among the largest public offerings this year. The massive investor interest was evident from the offering's subscription status. On the very first day of the bidding, the IPO was fully subscribed within just a few hours.

Most analysts on Dalal Street gave Bajaj Housing Finance Ltd. a 'Subscribe' rating. Besides the thumbs up from D-street analysts, the housing finance company also boasts a strong balance sheet with consistent growth in both revenue and net profit.

For FY24, Bajaj Housing Finance reported a net profit of Rs 1,731 crore and revenue of Rs 7,617 crore. In the first quarter of FY25, the company continued its strong performance, posting a revenue of Rs 2,208 crore and a net profit of Rs 482 crore.

Upcoming IPOs

So far this year, the primary market has remained busy with major companies making their D-street debuts. Companies like Ola Electric, Unicommerce, Bharti Hexacom, Awfis and Emcure Pharma witnessed robust investor interest.

As for the second half of FY25, the primary market is expected to see similar activity. However, the market regulator and analysts have raised a caution sign as the euphoria might turn into a pure gamble.

According to a recent study by Securities and Exchange Board of India (Sebi), nearly 54 per cent of IPO investors sell their shares within a week of listing. The concern is even more visible in the SME IPO space where the listings have been jaw-dropping.