The Bajaj Housing Finance IPO has set a new benchmark in the Indian financial market with an unprecedented response from investors. Attracting bids worth a staggering Rs 3.24 lakh crore, this IPO has become the largest in Indian history. In this comprehensive guide, we’ll cover everything you need to know about the Bajaj Housing Finance IPO allotment, how to check your application status, and the latest updates on the Grey Market Premium (GMP).
IPO Overview
Key Details
| Aspect | Details |
|---|---|
| IPO Opening Dates | September 9-11, 2024 |
| Price Band | Rs 66-70 per share |
| Lot Size | 214 shares |
| Total Amount Raised | Rs 6,560 crore |
| Fresh Issue | Rs 3,560 crore |
| Offer for Sale | Rs 3,000 crore |
Historic Response
The IPO witnessed an overwhelming subscription rate of 63.61 times. Specifically:
| Investor Type | Subscription Rate |
|---|---|
| Qualified Institutional Bidders (QIBs) | 209.36 times |
| Non-Institutional Investors | 41.51 times |
| Retail Investors | 7.04 times |
| Shareholders and Employees | 17.53 times (Shareholders) |
| 2.05 times (Employees) |
The company, backed by the esteemed Bajaj Group, attracted bids for 46,28,35,82,522 equity shares. The QIB portion alone received bids for 37,17,70,59,692 shares, surpassing Rs 2.60 lakh crore.
Grey Market Premium (GMP)
The Grey Market Premium (GMP) for Bajaj Housing Finance has seen a significant surge following the historic bidding. Currently, the GMP stands at Rs 75 per share, indicating a potential listing gain of approximately 104%. This is a notable increase from the Rs 70 GMP observed when the IPO closed for bidding.
GMP Insight
| Aspect | Details |
|---|---|
| Initial GMP | Rs 70 |
| Current GMP | Rs 75 |
| Expected Listing Gain | 104% |
IPO Allotment Process
Allotment Timeline
- Finalization Date: September 12, 2024
- Notification: Investors will receive messages or emails regarding the debit of funds or allotment status by September 13 or the weekend following.
How to Check Your IPO Allotment Status
1. Check on BSE Website
- Visit: BSE IPO Status
- Select: Equity under Issue Type
- Choose: Bajaj Housing Finance Ltd from the dropdown
- Enter: Application Number and PAN Card ID
- Verify: Complete the CAPTCHA
- Submit: Click on the ‘Submit’ button to view the status
2. Check on KFin Technologies Portal
- Visit: KFin Technologies IPO Status
- Select: IPO from the dropdown menu (available once allotment is finalized)
- Choose: Application Number, Demat Account Number, or PAN ID
- Select: ASBA or Non-ASBA as the application type
- Enter: Details according to the selected mode
- Complete: Fill in the CAPTCHA for security
- Submit: Click ‘Submit’ to check allotment status
Registrar Role
The registrar, KFin Technologies Limited, is responsible for:
- Processing Applications: Handling electronic processing and allotment.
- Updating Shares: Ensuring timely credit of shares to successful applicants.
- Managing Refunds: Dispatching refunds for unsuccessful applications.
- Managing Investor Queries: Addressing all investor-related questions.
Company Profile: Bajaj Housing Finance
Incorporated in 2008, Bajaj Housing Finance is a non-deposit-taking housing finance company, registered with the National Housing Bank (NHB) since 2015. The company has been providing mortgage loans since FY 2018 and is a part of the diversified Bajaj Group, known for its significant presence across various sectors.
Key Highlights
| Aspect | Details |
|---|---|
| Parent Company | Bajaj Finance Limited |
| Services | Mortgage loans, home refinancing |
| Market Position | Strong market share, growing AUM |
| Growth Potential | Positive outlook based on solid parentage and market presence |
Brokerage Recommendations
Brokerages are generally favorable towards the IPO, recommending it for long-term investment due to:
- Solid Parentage: Strong backing by Bajaj Finance.
- Market Share: Significant presence in the housing finance sector.
- Growth Potential: Rising AUM and reasonable cost of funds.
However, concerns include asset concentration and exposure to the real estate sector.
Book Running Lead Managers
- BofA Securities India
- Axis Capital
- Kotak Mahindra Capital Company
- Goldman Sachs (India) Securities
- SBI Capital Markets
- JM Financial
- IIFL Securities
Registrar
- KFin Technologies Limited
FAQs
1. How can I check my Bajaj Housing Finance IPO allotment status?
You can check your allotment status on the BSE website or KFin Technologies portal. Follow the instructions provided above for each platform.
2. What is the current Grey Market Premium (GMP) for Bajaj Housing Finance?
The GMP for Bajaj Housing Finance is currently Rs 75 per share, indicating a potential listing gain of approximately 104%.
3. When will the shares of Bajaj Housing Finance be listed?
The shares of Bajaj Housing Finance are expected to be listed on both BSE and NSE on September 16, 2024.
4. What is the total amount raised through the Bajaj Housing Finance IPO?
The IPO raised a total of Rs 6,560 crore, including a fresh issue of Rs 3,560 crore and an offer for sale of Rs 3,000 crore.
5. What are the key details of the Bajaj Housing Finance IPO?
- Price Band: Rs 66-70 per share
- Lot Size: 214 shares
- IPO Dates: September 9-11, 2024
Conclusion
The Bajaj Housing Finance IPO represents a landmark event in the Indian capital markets. With a record-breaking response and a substantial GMP, this IPO has set a new precedent. Investors can check their allotment status through BSE and KFin Technologies’ portals and prepare for the upcoming listing on September 16, 2024.