Bajaj Housing Finance IPO Fully Subscribed Within Hours on Opening Day

The Rs 6,560-crore IPO of Bajaj Housing Finance was fully subscribed within hours of its opening, garnering 2 times the available shares. Non-institutional investors led with 4.35 times subscription, while retail investors and QIBs followed. The issue aims to meet regulatory requirements and augment the company's capital base.

Bajaj Housing Finance's Rs 6,560-crore initial public offering was fully subscribed within hours of opening for bids on Monday, concluding the day with a twice-over subscription rate.

NSE data revealed bids for 1,46,58,24,030 shares, markedly exceeding the 72,75,75,756 shares available. Non-institutional investors led the charge with 4.35 times subscription, while retail investors secured 1.50 times and Qualified Institutional Buyers (QIBs) 1.07 times.

On Friday, the company announced the collection of Rs 1,758 crore from anchor investors. The IPO, which runs until September 11, consists of fresh equity shares worth Rs 3,560 crore and an offer-for-sale (OFS) totalling Rs 3,000 crore, driven in part by RBI regulations mandating upper-layer NBFCs to list by 2025. The capital raised will bolster Bajaj Housing Finance's capital base to meet future needs.