The Bajaj Housing Finance Ltd (BHFL) initial public offering (IPO) has been one of the most highly anticipated listings of 2024, and its allotment process is set to be finalized on Thursday, September 12. The IPO attracted tremendous investor interest, setting new records in terms of demand and subscription figures. This article provides a detailed breakdown of the IPO, including the allotment process, key figures, and steps to check the Bajaj Housing Finance IPO allotment status.
Bajaj Housing Finance IPO: Record-Breaking Demand
The Bajaj Housing Finance IPO closed on September 11, 2024, after generating a staggering demand of over ₹3.2 lakh crore. This oversubscription rate of more than 67 times is the highest recorded for any IPO in India, surpassing notable previous records held by Coal India Ltd (2008) and Mundra Port (2007), which saw subscription amounts exceeding ₹2 lakh crore.
The strong investor appetite was fueled by both institutional and retail investors, with a total of 89 lakh investors placing bids for the shares. The unprecedented interest highlights the strong demand for shares in Bajaj Housing Finance Ltd, one of India’s leading housing finance companies.
Subscription Numbers: Institutional and Retail Interest
By the close of the IPO on Wednesday evening, the offering received bids for over 4,628 crore shares, against the 72.75 crore shares available for allocation across both the BSE and NSE. This immense demand led to significant oversubscription across all investor categories:
- Institutional investors: The institutional portion of the IPO was subscribed 222 times, reflecting substantial interest from foreign and domestic institutions.
- High net worth individuals (HNIs): The portion reserved for HNIs was subscribed 44 times.
- Retail investors: The retail portion was subscribed more than seven times.
- Bajaj Finance and Bajaj Finserv shareholders: This category saw a 17.4 times subscription rate.
- Employee portion: Even the employee portion saw strong interest, being subscribed more than twice.
These figures demonstrate the widespread demand for Bajaj Housing Finance Ltd shares across various segments of the market.
Anchor Investors and Price Band
Before the official opening of the IPO on September 9, 2024, shares worth ₹1,758 crore were allocated to anchor investors, who play a crucial role in establishing confidence in the offering. The remaining shares worth ₹4,802 crore were made available to the general public within a price band of ₹66 to ₹70 per share.
On the first day of subscription, the IPO was already subscribed twice, and by the second day, the subscription rate had increased to over seven times, further highlighting the strong market confidence in Bajaj Housing Finance Ltd.
IPO Allotment: How to Check Allotment Status
The allotment of Bajaj Housing Finance IPO shares is expected to follow a lottery-based process, given the overwhelming demand for the issue. Investors can check the status of their allotment through multiple channels, including the Bombay Stock Exchange (BSE) and KFin Technologies, which is the official registrar for the IPO.
How to Check Bajaj Housing Finance IPO Allotment on BSE
- Visit the BSE official website: Navigate to the official site at www.bseindia.com.
- Click on ‘Investors’: On the homepage, click on the ‘Investors’ option.
- Select ‘Investor Services’: From the dropdown, choose the ‘Status of Issue Application’ option.
- Select ‘Application Status Check’: Click on the relevant link to check your application status.
- Choose ‘Equity’ as the issue type: Ensure you select ‘Equity’ from the dropdown.
- Enter required details: Provide the necessary details, including the ‘Issue Name’ and your PAN details.
- Click on ‘Search’: Once all the information is filled in, click ‘Search’ to view the status of your allotment.
How to Check Bajaj Housing Finance IPO Allotment on KFin Technologies
Alternatively, investors can check their allotment status on the registrar’s official website, KFin Technologies. Follow the steps below:
- Visit KFin Technologies’ official website: Go to evault.kfintech.com/ipostatus/.
- Select Bajaj Housing Finance IPO: From the list of IPOs, select Bajaj Housing Finance Ltd.
- Enter PAN details: Input your PAN number correctly to check the allotment status.
- Click ‘Search’: After entering the details, click on ‘Search’ to know your allotment status.
This simple process will allow you to quickly determine if you have been allotted shares in the IPO.
Bajaj Housing Finance Ltd: Company Overview and Financial Outlook
Bajaj Housing Finance Ltd is a prominent name in the Indian housing finance sector, offering a range of home loans, property loans, and loan-against-property products to retail and corporate clients. The company operates as a subsidiary of Bajaj Finance Ltd, part of the larger Bajaj Group, a diversified conglomerate with interests across financial services, manufacturing, and consumer goods.
Financial Performance
Bajaj Housing Finance Ltd has shown consistent growth over the years, driven by its strong balance sheet, efficient loan disbursement process, and robust risk management practices. The company’s focus on the affordable housing sector, coupled with its ability to offer competitive interest rates, has contributed to its rising market share.
In recent financial years, the company has reported double-digit growth in both its loan book and net profit, making it an attractive investment for institutional and retail investors alike. With the proceeds from the IPO, Bajaj Housing Finance aims to strengthen its capital base and support its future expansion plans.
Expected Listing Date
Investors who have been allotted shares in the Bajaj Housing Finance IPO can expect the company to be listed on the stock exchanges by September 16, 2024. This listing is anticipated to be a highly-watched event, given the massive oversubscription and investor interest in the IPO. Analysts predict that the shares will likely list at a premium to the IPO price, offering immediate gains to those who were successfully allotted shares.
Conclusion: A Landmark IPO for Bajaj Housing Finance
The Bajaj Housing Finance IPO has set new records in India’s primary market, attracting bids worth over ₹3.2 lakh crore and achieving a subscription rate of 67 times. With strong demand from institutional investors, HNIs, and retail participants, this IPO is poised to be one of the most successful public issues in recent times.
As the company gears up for its listing on September 16, all eyes will be on the performance of Bajaj Housing Finance shares. With its strong financial fundamentals, strategic growth initiatives, and parent company support, the company is well-positioned to deliver value to its shareholders.
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