Bajaj Housing Finance IPO: Allotment Status, GMP, and Key Dates

The Bajaj Housing Finance IPO, which has garnered significant market attention, is a hot topic for investors. As the IPO progresses, several key aspects including allotment status, grey market premium (GMP), and listing dates are crucial for potential shareholders. This article provides a detailed overview, drawing insights from various sources to give a comprehensive understanding of the IPO landscape.

About Bajaj Housing Finance Limited

Established in 2008, Bajaj Housing Finance operates as a non-deposit-taking Housing Finance Company (HFC) and has been registered with the National Housing Bank (NHB) since 2015. The company began offering mortgage loans in the fiscal year 2018.

As a member of the Bajaj Group—a well-known conglomerate with diverse interests— Company delivers tailored financial solutions for both individuals and businesses. Their offerings cover a wide range of mortgage products, including home loans, loans against property (LAP), rent concessions, and developer finance.

By March 31, 2024, the company had served 308,693 active customers, with 81.7% of them holding home loans. Company operates through a robust network of 215 branches spread across 174 locations in 20 states and three union territories. The company’s operations are supported by six centralized retail loan review centers and seven centralized loan processing centers.

Bajaj Housing Finance IPO Overview

The Company’s IPO launched with a bang, aiming to raise capital for expanding its operations and strengthening its financial base. Here’s a snapshot of the IPO details:

• Issue Size: 937,142,858 shares (aggregating up to ₹6,560.00 Cr)
• Price Band: ₹66 to ₹70per share
• Lot Size :  214 shares
• Issue Type: Book Built Issue IPO

This sizable IPO has attracted significant attention, reflecting strong investor confidence and anticipation for the company’s future performance.

IPO Allotment Status: What to Expect

The allotment status is a pivotal phase in the IPO process, where investors find out how many shares they have been allotted. For the this IPO, the allotment process is managed by Kfintech, the official registrar.

How to Check Your IPO Allotment Status

To check your allotment status for the Bajaj Housing Finance IPO, follow these steps:

1. Visit Kfintech’s IPO Portal: Go to the Kfintech website.
2. Enter Required Details: Input your application number and PAN details.
3. Submit and View Status: After submission, your allotment status will be displayed.

The allotment status is usually released a few days after the subscription period closes. Investors can expect this information to be available within 7-10 days from the end of the IPO.

Grey Market Premium (GMP) Insights

The Grey Market Premium (GMP) provides a sense of how the stock might perform when it lists on the exchanges. As of recent updates, the GMP for the this IPO has been reported as follows:

• Current GMP: ₹70-₹78 per share

A GMP in this range suggests a strong investor sentiment and indicates potential listing gains. The GMP reflects the unofficial trading price of the shares before they are officially listed, providing an early gauge of market expectations.

Listing Date and What to Expect

The listing date is the moment when shares are available for trading on the stock exchanges. For Bajaj Housing Finance, the anticipated listing date is:

• IPO Open Date: September 9, 2024
• IPO Close Date: September 11, 2024
• Basis of Allotment: September 11, 2024
• Expected Listing Date: September 16, 2024

What Investors Should Know

1. Market Volatility: On the listing day, be prepared for price volatility. Initial trading can see significant price swings based on market demand and supply.
2. Trading Strategy: It is advisable to have a clear strategy for trading your shares on the listing day, considering potential fluctuations in stock price.

Key Takeaways for Investors

Here’s a concise summary of important points for investors:

1. Monitor Allotment Status: Regularly check the Kfintech website for updates on your allotment status.
2. Observe GMP Trends: Track GMP trends to gauge investor sentiment and potential gains.
3. Prepare for Listing: Be ready for potential volatility on the listing day and plan your trading strategy accordingly.

Investors could bid for a minimum of 214 shares and in multiples thereof .Bajaj Housing Finance Limited experienced a 34% increase in revenue and a 38% rise in profit after tax (PAT) from the fiscal year ending March 31, 2023, to the fiscal year ending March 31, 2024.

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