Bajaj Housing Finance is finally on the block; the company was listed on both the National Stock Exchange (NSE) and the Bombay Stock Exchange on Monday, September 16.
BHF On The Markets
The stock was listed on the equity markets with a 114 per cent premium. The Bajaj Housing Finance Ltd stock hopped on the Dalal Street at the price of Rs 150 per share.
One must note that, here, when an asset or thing is trading at a premium, it means that its price is higher than some kind of basic value. This is known as a premium.
Due to factors such as limited availability, rising demand, or expectations of future value appreciation, assets may trade at a premium.
This listing price of the stock is higher than the issue price of Rs 70 per share.
Delving further into the details of the IPO, the subscription for the same started on September 9 and concluded on September 11. The allotment came to pass on September 12. Initiation of refunds and crediting of shares to Demat accounts was done on September 13. | Image: Wikipedia (Representative)
IPO Details
Delving further into the details of the IPO, the subscription for the same started on September 9 and concluded on September 11. The allotment came to pass on September 12. Initiation of refunds and crediting of shares to Demat accounts was done on September 13.
Furthermore, on the final day of bidding, the IPO received over 63 subscriptions totalling over Rs 3 lakh crore.
In addition, the non-institutional investor part of the Bajaj Housing Finance initial public offering (IPO) has been subscribed 41.42 times. There have been nearly 209.36 subscriptions to the Qualified Institutional Buyers (QIBs) quota.
Performance So Far
On the last day, September 11, the Bajaj Housing Finance were subscribed to 67.43 times. In the retail category, the public issue was subscribed 7.41 times, in the QIB category, 222.05 times, and in the NII category, 43.98 times.
Intraday chart on day, so far | NSE
At the time of writing, the company shares were trading at Rs 158.05. This marked an increase of 5.37 per cent or Rs 8.05. This is higher than the listing price of Rs 150.00. Meanwhile, in the early hours, the shares also hit a high of Rs 161 per share, as per the National Stock Exchange (NSE).
