Bajaj Housing Finance IPO Listing: Bajaj Housing Finance on Monday witnessed a bumper listing with a 114 per cent gains at Rs 150 apiece on the BSE, as compared with the issue price of Rs 70. The shares later jumped to hit Rs 160.92 apiece.
Shivani Nyati, head of wealth at Swastika Investmart Ltd, said, “Bajaj Housing Finance, the housing finance arm of the renowned Bajaj Group, made a spectacular stock market debut, listing at Rs. 150 per share, a staggering 114% premium over its issue price of Rs. 70. This blockbuster performance was widely anticipated, given the IPO’s overwhelming subscription of 67.43 times and the sky-high grey market premium.”
The listing reflects investors’ unwavering confidence in the company’s robust financials, backed by the prestigious Bajaj Group, she said.
Bajaj Housing Finance’s consistent growth, coupled with its reasonable valuation, made it a highly attractive investment proposition, Nyati added.
“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. However, it’s essential to continuously monitor the company’s performance and market conditions for informed decision-making,” she added.
