The allotment status for Bajaj Housing Finance Limited's Initial Public Offering (IPO) has been officially announced. Investors who applied for the public issue can now check their allotment status online by visiting the BSE website or the official registrar's site, KFin Technologies Limited. The eagerly anticipated listing date for Bajaj Housing Finance is scheduled for Monday, September 16, 2024.
Grey Market Premium (GMP) Update
Following the announcement of the IPO allotment status, the grey market has displayed increased optimism. Currently, the Grey Market Premium (GMP) for Bajaj Housing Finance IPO shares stands at ₹79, a slight rise from ₹77 on the previous day. This premium suggests that the shares are trading approximately 110% above the upper price band of the IPO, indicating potential multibagger returns for investors.
Predicted Listing Price and Expert Opinions
Market analysts estimate that the listing price of Bajaj Housing Finance shares could be around ₹149, based on the current GMP. However, experts caution that GMP may not be a reliable predictor of actual listing gains, as it operates in an unregulated market and does not reflect the company's financial health. Investors are encouraged to focus on the company's fundamentals and financials when making investment decisions.
Record-Breaking Subscription and Market Impact
The IPO has seen a remarkable subscription amount of ₹3.23 lakh crore, surpassing 1% of India's estimated nominal GDP for the fiscal year 2023-24. This overwhelming investor interest reflects strong market sentiment and high demand for Bajaj Housing Finance shares.
Listing Date and Time
The shares of Bajaj Housing Finance are set to be listed on both BSE and NSE at 10 am on September 16, 2024. The impressive subscription figures highlight the company's robust position in the housing finance sector. As the second-largest player in the industry, Bajaj Housing Finance benefits from its association with Bajaj Finance, offering a diverse range of products and a solid asset base.
Future Outlook and Recommendations
Proceeds from the IPO will enhance the company's capital base, supporting future growth. Following RBI regulations, the IPO aims to ensure that leading non-banking finance companies like Bajaj Housing Finance are listed on stock exchanges by September 2025. Analyst Prashanth Tapse from Mehta Equities advises short-term investors to consider profit booking if listing gains exceed expectations. For long-term investors, holding the shares is recommended due to the optimistic sector outlook and Bajaj Housing Finance’s strong market position.
Company Background and Recent Developments
Bajaj Housing Finance, registered with the National Housing Bank since September 2015, offers a range of financial products including home loans, loans against property, and developer financing. Classified as an "upper layer" NBFC by the RBI, the company maintains a quality asset base with minimal exposure to risky assets. Recent initiatives include expanding its retail presence and introducing affordable home loan products for first-time buyers, further driving growth and broadening its customer base.
Disclaimer
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