Bajaj Housing Finance Shares Surge by 10% on Second Market Day

Shares of Bajaj Housing Finance Ltd experienced a significant 10% surge on Tuesday, continuing their strong performance from the previous day. The company's market valuation increased by Rs 12,417.27 crore, highlighting substantial investor interest following its IPO, which was subscribed 63.60 times.

Shares of newly-listed Bajaj Housing Finance Ltd surged 10% on Tuesday, reaching the upper circuit limit and continuing the gains seen on its listing day.

On the BSE, the stock hit Rs 181.48, and similarly, it surged 10% on the NSE to Rs 181.50, marking the highest trading permissible limit for the day.

The market valuation of Bajaj Housing Finance climbed by Rs 12,417.27 crore to Rs 1,49,823.36 crore.

This follows the company's robust market debut on Monday, where it ended with a significant premium of nearly 136% against the issue price of Rs 70, listing at Rs 150 on both the BSE and NSE.

The Rs 6,560-crore IPO drew strong interest, with a subscription rate of 63.60 times on the final bidding day, driven by institutional investors. The IPO included a fresh equity issue worth Rs 3,560 crore and an OFS of Rs 3,000 crore by parent company Bajaj Finance.

Bajaj Housing Finance, a non-deposit-taking housing finance company registered with the National Housing Bank, offers various financial solutions for residential and commercial properties. Identified as an 'upper layer' NBFC by the RBI, its product range includes home loans, loans against property, lease rental discounting, and developer financing.

(With inputs from agencies.)