Bajaj Finserv Share Price Overview
Bajaj Finserv, a prominent player in India’s diversified non-banking financial sector, is making headlines with the impending listing of its subsidiary Bajaj Housing Finance. Scheduled for September 16, this milestone follows a successful IPO, which closed on September 11. In anticipation of the listing, shares of Bajaj Finserv and Bajaj Finance experienced an upward trend, rising about 3 percent intraday on September 13, before closing with a noteworthy gain of 2 percent.
Market Predictions and Analyst Insights
Brokerage firm Macquarie has expressed optimism regarding a potential boost in shares of Bajaj Finance post the listing of Bajaj Housing Finance. Analysts project that a strong debut by Bajaj Housing Finance could trigger a 5% rise in Bajaj Finance’s stock, while also potentially leading to a reevaluation of other housing finance companies in the sector.
The recent price increase in Bajaj Finance shares suggests that Macquarie’s forecasts could materialize, paving the way for positive investor sentiment as the markets approach the listing date.
IPO Listing Expectations
Analysts believe that Bajaj Housing Finance is poised for a robust debut on the stock market, with projections indicating that investors could see their investments double on the very first day of trading. Reports from investorgain.com reveal that shares of Bajaj Housing Finance are currently being traded in the gray market at a premium of Rs 80.50, representing a staggering 115% above the IPO’s upper price band of Rs 70. Based on this premium, market participants anticipate a listing price around Rs 150.5.
Performance Highlights of Bajaj Finserv
On September 13, Bajaj Finserv shares reached a remarkable new high, closing up by 2% on the BSE. The stock peaked at Rs 1906.90 during trading, marking a new 52-week record. The upper price band for Bajaj Finserv stands at Rs 2,038.85, while its market capitalization surpasses Rs 3 lakh crore, reinforcing its status as a major player in the financial sector.
Similarly, Bajaj Finance shares also demonstrated a strong performance, closing with a 2% gain and reaching a high of Rs 7659.70 during the day’s trading. With a market cap exceeding Rs 2.11 lakh crore, Bajaj Finance continues to solidify its position as a leader in the financial industry.
Bajaj Housing Finance IPO Response
The IPO for Bajaj Housing Finance attracted significant interest, with an overall subscription rate of 67.43 times. Notably, the segment reserved for qualified institutional buyers was oversubscribed by an impressive 222 times, while non-institutional and retail investors subscribed at rates of 43.98 times and 7.41 times, respectively. The employee segment also saw a subscription rate of 2.13 times, indicating strong demand across all investor categories.
The IPO raised more than Rs 3 lakh crore in total subscriptions, with new shares worth Rs 3,560 crore being issued as part of the Rs 6,560 crore IPO, alongside an offer for sale amounting to Rs 3,000 crore.
Future Prospects
Bajaj Housing Finance aims to provide financial solutions to both individuals and corporate entities for purchasing and renovating homes or commercial properties. The proceeds from the new shares issued during the IPO will be strategically utilized to enhance the company’s capital base, enabling further growth and expansion in the housing finance sector.
