in the grey market Bajaj Housing Finance There is a tremendous craze for the IPO of Bajaj Housing Finance. Let us tell you that the shares of Bajaj Housing Finance will be listed on both BSE and NSE on Monday i.e. 16 September at 10 am. The company’s target was to raise Rs 6,560 crore through the IPO, but the bid crossed Rs 3.2 lakh crore. The company’s issue received about 90 lakh applications, surpassing the previous record of 73.5 lakh applications of Tata Technologies.
Such an overwhelming response has set a new benchmark for the Indian IPO market and several housing finance companies, including homegrown financial giants Bajaj Finance and Bajaj Finserv, are witnessing a robust rally.
IPO GMP
According to some platforms in the grey market, Bajaj Housing Finance IPO GMP (grey market premium) has increased to around Rs 72 in the non-listed market on the day of allotment. With a price band of Rs 70, the estimated listing price of Bajaj Housing Finance IPO seems to be Rs 148. It is expected that investors can get a profit of 112.14% on listing. Also, let us inform you that the price band keeps changing continuously in the grey market.
Bajaj Housing Finance’s IPO has attracted investor interest for several reasons. This company is the second largest company in the housing finance sector. The company has a good range of products and has solid support from its parent company Bajaj Finance.
Fundamentals
If we look at the company’s finances, Bajaj Housing Finance’s net profit in Q4 was Rs 381 crore. This is a growth of 26% on an annual basis. At the same time, the company’s net interest income increased by 11% (YoY) and stood at Rs 629 crore. The company’s AUM has increased by 32% on an annual basis and AUM has increased to Rs 91,370 crore. At the same time, the net total income also increased by 14% (YoY) to Rs 717 crore in Q4. The company’s loan disbursal registered an increase of 26% on an annual basis.