Bajaj Housing Finance IPO allotment: Check application status and latest GMP

The allotment of shares for Bajaj Housing Finance’s blockbuster IPO is set to be finalised today, Thursday, September 12, 2024.

If you’ve bid for the IPO, you will soon know whether you’ve been allotted shares. Notifications regarding share allotment will be sent via SMS, email, or your banking apps, with fund debit or mandate release updates expected by Friday or over the weekend.

Buzz around Bajaj Finance IPO

Bajaj Housing Finance’s Rs 6,560-crore IPO was one of the most talked-about public issues of the year. Here’s why:

Issue Size: Rs 6,560 crore (comprising a fresh issue of Rs 3,560 crore and an offer-for-sale of Rs 3,000 crore by Bajaj Finance Ltd)

Price Band: Rs 66-70 per share

Lot Size: Investors were required to apply for a minimum of 214 shares

Subscription details:

Overall, the issue was subscribed a whopping 63.61 times.

Qualified Institutional Buyers (QIBs) led the frenzy with subscriptions 209.36 times over.

Non-Institutional Investors (NIIs) subscribed 41.51 times.

Retail investors followed with a subscription of 7.04 times.

Record-breaking investor demand

Bajaj Housing Finance’s IPO attracted bids worth a jaw-dropping Rs 3.24 lakh crore, making it the first Indian IPO to cross Rs 3 lakh crore in bids.

The bulk of this interest came from institutional investors, with the QIB portion alone seeing bids worth more than Rs 2.60 lakh crore for the 17.75 million shares allocated to them.

This massive demand highlights the strong confidence in Bajaj Housing Finance’s business model, growth potential, and its status as part of the respected Bajaj Group.

Latest Grey Market Premium (GMP)

After this overwhelming response, the Grey Market Premium (GMP) for the IPO surged. The latest GMP, as of September 12, 2024, stands at Rs 78 per share. Based on this premium, the projected listing price is expected to be around Rs 148, offering investors a potential return of 111% from the issue’s upper price band of Rs 70.

How to check your IPO allotment status

If you’ve applied for the Bajaj Housing Finance IPO, you can check your allotment status online in a few simple steps:

Through the BSE website:

Visit the BSE allotment status page: Click here

Select Equity as the issue type.

Choose Bajaj Housing Finance Ltd from the dropdown list.

Enter your application number and PAN card details.

Complete the CAPTCHA and click Submit.

Through the KFin Technologies website:

Visit KFin Technologies’ allotment status portal: Click here

Select Bajaj Housing Finance Ltd from the dropdown.

Choose how you wish to check the allotment (via Application Number, Demat Account, or PAN).

Enter the relevant details and security CAPTCHA.

Click Submit to view your allotment status.

What’s next?

The shares of Bajaj Housing Finance are scheduled to be listed on both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) on Monday, September 16, 2024.

Investors expect a strong listing, hoping for substantial gains given the record-breaking demand and positive Grey Market sentiment.

Brokerages like Chola Securities, IDBI Capital, and Reliance Securities have given the IPO a ‘Subscribe’ recommendation, citing Bajaj Housing Finance’s robust financials, its solid backing from the Bajaj Group, and its promising growth potential in the housing finance sector.

However, some caution remains around the company’s asset concentration in real estate.

This IPO could provide investors a significant return if the shares debut at the anticipated premium price.