Bajaj Housing Finance's mega Rs 6,560-crore IPO, which opened for bidding on Monday, 9 September, was subscribed over 26 percent within one hour of opening. HNIs, or non-institutional wealthy investors, had already subscribed over half of their reserved portion.
Bajaj Housing Finance had collected a massive Rs 1,758 crore from anchor investors on Friday. The Rs 6,560-crore initial share-sale will conclude on September 11.
As of 11 a.m., the IPO has received bids for more than 17.18 crore shares out of 72.76 crore shares on offer on both the NSE and BSE. The non-institutional investors (NII) category obtained 54% of the subscriptions, while Retail Individual Investors (RIIs) received 29%.
The IPO has a price band of Rs 66 to Rs 70 per share for the public issue, which includes a fresh issue of equity shares of up to Rs 3,560 crore and an offer-for-sale (OFS) of equity shares worth Rs 3,000 crore by parent Bajaj Finance.
As of September 9, Bajaj Housing Finance shares are trading at a GMP of Rs 51 in the unlisted market, representing a 73% premium.
