Bajaj Housing Finance IPO
Bajaj Housing Finance Limited (BAJAJHFL) · mainboard IPO on NSE and BSE · 100% Book Building. Listed on 16 September 2024.
Issue details
Listing day
Back-tested estimate (from a model that had only seen earlier years' IPOs): listing gain +20.5% (likely range +12% to +55%), day's high +41.2%, chance of a gain 92%. Actual: +114.3% at the open, +135.7% at the high.
Subscription status
| Category | Shares offered | Shares bid for | Subscribed | |
|---|---|---|---|---|
| QIB (institutions) | 17,75,75,756 | 37,17,70,59,692 | 209x | |
| NII (HNI) total | 13,31,81,819 | 5,52,85,57,748 | 41.5x | |
| Big NII (above ₹10 lakh) | 8,87,87,880 | 4,23,02,57,840 | 47.6x | |
| Small NII (₹2-10 lakh) | 4,43,93,939 | 1,29,82,99,908 | 29.2x | |
| Retail | 31,07,57,576 | 2,18,80,22,028 | 7.04x | |
| Employees | 3,03,03,030 | 6,21,85,190 | 2.05x | |
| Shareholders | 7,57,57,575 | 1,32,77,57,864 | 17.5x | |
| Total | 72,75,75,756 | 46,28,35,82,522 | 63.6x |
Bids on NSE and BSE together, as published by NSE, as of 11 Sep 2024, 07:00 PM. Shares offered exclude the anchor portion. 6% of all shares bid for were at the cut-off price.
Past IPOs with similar demand
Earlier mainboard IPOs whose QIB, NII and retail subscription and size were closest to Bajaj Housing Finance's, and how they listed.
| IPO | QIB | NII | Retail | Total | Size | Listing gain | Day high |
|---|---|---|---|---|---|---|---|
| Premier EnergiesAug 2024 | 217x | 50.0x | 7.69x | 74.4x | ₹2,838 Cr | +120.0% | +121.0% |
| Emcure PharmaceuticalsJul 2024 | 196x | 48.3x | 7.21x | 67.9x | ₹1,950 Cr | +31.4% | +37.4% |
| IndegeneMay 2024 | 198x | 55.1x | 7.95x | 69.9x | ₹1,840 Cr | +44.9% | +46.0% |
| Tata TechnologiesNov 2023 | 203x | 62.1x | 16.5x | 69.4x | ₹3,043 Cr | +140.0% | +180.0% |
| SBFC FinanceAug 2023 | 193x | 49.1x | 11.0x | 70.2x | ₹1,082 Cr | +43.9% | +67.5% |
| Jupiter Life Line HospitalsSep 2023 | 187x | 34.8x | 7.73x | 63.7x | ₹886 Cr | +32.4% | +50.9% |
Lead managers and their listing record
| Book running lead manager | Mainboard IPOs since 2019 | Avg listing gain | Listed at a premium |
|---|---|---|---|
| Kotak Mahindra Capital Company | 83 | +20.8% | 76% |
| BofA Securities India | 18 | +30.6% | 72% |
| Axis Capital | 107 | +20.4% | 73% |
| Goldman Sachs (India) Securities | 16 | +18.4% | 69% |
| SBI Capital Markets | 56 | +16.7% | 61% |
| JM Financial | 109 | +22.8% | 75% |
| IIFL Securities | 94 | +19.3% | 71% |
Offer documents (NSE)
Frequently asked
What is the Bajaj Housing Finance IPO price band and lot size? ₹66.0–70.0 per share, with a lot of 214 shares, so the smallest retail bid is ₹14,980.
How many times has it been subscribed? 63.6x overall: QIB 209x, NII 41.5x, retail 7.04x, employees 2.05x.
How did it list? It opened at ₹150, +114.3% against the issue price of ₹70.0, and closed its first day +135.7%.
