Bajaj Housing Finance IPO listing today: Bajaj Housing Finance shares made a bumper debut on the stock exchanges today, riding high on the positive market sentiment. The shares listed at Rs 150 on the BSE, surging 114.28 per cent above the IPO issue price of Rs 70.
Similarly, on the NSE, Bajaj Housing Finance shares listed at Rs 150, commanding a premium of 114.28 per cent on Monday. With this, the stock entered the elite club of companies commanding a market capitalisation of Rs 1-trillion.
At 10:08 AM, Bajaj Housing Finance share price was quoting at Rs 154.9 per share, up 121 per cent over the IPO price. The m-cap of the company stood at Rs 1.3 trillion. Thus far, the stock has hit a high of Rs 160.92 and a low of Rs 147.
Analysts say the listing reflects investors’ unwavering confidence in the company’s robust financials, backed by the prestigious Bajaj Group.
Bajaj Housing Finance’s consistent growth, coupled with its reasonable valuation, made it a highly attractive investment proposition, they said.
Going ahead, Ambareesh Baliga, an independent market analyst, says investors should continue to hold the stock for some time.
“We have seen an IPO coming from Bajaj Group after a really long time. Bajaj Housing is a long-term bet and investors may hold it for some time as positive momentum may continue as long as the overall sentiment remains buoyant,” he said.
Astha Jain, senior research analyst at Hem Securities, however, believes investors, who received the stock during IPO allotment, should book partial profit at around Rs 150 per share, but keep the stock in one’s portfolio as Bajaj Housing Finance may emerge as a long-term wealth creator.
Bajaj Housing Finance is a subsidiary of Bajaj Finance — one of the most diversified NBFCs in the Indian market. Headquartered in Pune, Bajaj Housing Finance offers finance to individuals as well as corporate entities for the purchase and renovation of homes or commercial spaces. It also provides loans against property for business or personal needs, as well as working capital for business expansion purposes. BHFL also offers finance to developers engaged in the construction of residential and commercial properties, as well as lease rental discounting to developers and high-net-worth individuals.
Bajaj Housing Finance’s Rs 6,560-crore IPO had received a massive response from investors as it received bids for 46,28,35,82,522 shares against 72,75,75,756 shares offered in the IPO, thus getting subscribed 63.61 times by the final day of subscription.
“This successful debut is a testament to the company’s strong fundamentals and the market’s anticipation for its growth potential. Investors who were fortunate enough to secure allotments in the IPO may consider booking profit now, but those who want to hold their positions may do so by potentially setting a stop loss at Rs 135 as a risk management strategy,” said Shivani Nyati, head of wealth, Swastika Investmart.
First Published: Sep 16 2024 | 10:01 AM IST
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