Bajaj Housing Finance shares soar 10% on market debut
Housing & Urban Development Corporation holds the second spot with a market valuation of Rs 490.56 billion, followed by LIC Housing Finance at Rs 372.39 billion, and PNB Housing Finance at Rs 273.33 billion. Other notable companies in this sector include Aadhar Housing Finance, Aptus Value Housing Finance India Ltd, AAVAS Financiers, Sammaan Capital, Can Fin Homes, and Home First Finance Company India.
Bajaj Housing Finance Ltd made a strong market debut on September 16, closing with a premium of nearly 136% against its issue price of Rs 70. The stock was listed at Rs 150 on both the BSE and NSE, reflecting a jump of 114.28% from its issue price. The company's Rs 65.60 billion initial public offering (IPO) received an overwhelming response, being oversubscribed 63.60 times by the close of bidding on September 11. The IPO had a price band of Rs 66-70 per share and included a fresh issue of equity shares worth Rs 35.6 billion, along with an offer-for-sale (OFS) of equity shares worth Rs 30 billion by parent company Bajaj Finance.
Bajaj Housing Finance Ltd, a non-deposit-taking housing finance company registered with the National Housing Bank in 2015, offers a range of financial solutions for purchasing and renovating residential and commercial properties. It is categorized as an ‘upper layer’ non-banking financial company (NBFC) by the Reserve Bank of India (RBI) and provides comprehensive mortgage products, including home loans, loans against property, lease rental discounting, and developer financing. (ET)