Bajaj Housing Finance Share Price Soars: Stock Surges Uper Circut After Listing at 114.2% Premium on NSE
Bajaj Housing Finance witnessed a remarkable debut on the stock exchange, with its shares surging to hit the 10% upper circuit, following an impressive listing at a 114.2% premium. The housing finance company, which raised funds through an IPO consisting of a fresh issue of shares worth ₹3,560 crore and an offer-for-sale component of shares valued at ₹3,000 crore by Bajaj Finance, has caught the attention of investors and the market alike.
Overview of Bajaj Housing Finance
Bajaj Housing Finance is a non-deposit-taking housing finance company (HFC) that offers a broad range of financial solutions, including funding for purchasing and renovating both residential and commercial properties. As a prominent player in India’s housing finance market, Bajaj Housing Finance has positioned itself as a reliable partner for individuals and businesses alike. The lead managers for the company’s IPO include well-known financial institutions such as SBI Capital Markets Ltd, Kotak Mahindra Capital Company Ltd, BofA Securities India Ltd, Goldman Sachs (India) Securities Private Ltd, JM Financial Ltd, and Axis Capital.
Share Price Surge and Market Response
At 12:52 pm, shares of Bajaj Housing Finance soared, hitting their 10% upper circuit and trading at ₹165 per share on the NSE. This follows an exceptional listing at a 114.2% premium over the IPO price, which generated widespread investor interest.
Earlier, at 12:01 pm, the stock was trading at ₹164.4, showing a 9.6% increase. With a strong start in the market, Bajaj Housing Finance has become the focus of attention, underpinned by its robust financial performance and strategic market position.
Current Portfolio and Offerings
Bajaj Housing Finance Limited provides various financing solutions, catering to both individual and corporate needs. Their product portfolio includes home loans, loans against property, and financing solutions for developers. Additionally, the company offers lease rental discounting for high net-worth individuals (HNIs) and developers. This range of products has contributed significantly to the company’s rapid growth and strong market position.
Bajaj Housing Finance’s Market Share and Growth
According to the company’s red herring prospectus (RHP), Bajaj Housing Finance is currently the second-largest HFC in India, boasting assets under management (AUM) of ₹913.7 billion for the financial year 2023-24. This places it just behind LIC Housing Finance, which holds an AUM of ₹2,868.4 billion. With an impressive compound annual growth rate (CAGR) of 31% from 2022 to 2024, Bajaj Housing Finance has become the fastest-growing housing finance company in India.
The Reason Behind Bajaj Housing Finance’s IPO
Bajaj Housing Finance’s decision to launch its IPO stems from the need to comply with the Reserve Bank of India’s (RBI) regulations. As per the RBI’s directive, upper-layer non-banking finance companies (NBFCs) are required to be listed on stock exchanges by September 2025. Bajaj Housing Finance has been identified as an “upper layer” NBFC by the RBI, which underscores the company’s significance in the sector. The company’s comprehensive product offerings include home loans, loans against property, lease rental discounting, and developer financing.
Bajaj Housing Finance Share Price Movement
By 10:55 am, Bajaj Housing Finance shares were trading at ₹157.9, reflecting a 5.3% gain from the opening price. The stock opened at ₹150, while the issue price was set at ₹70, indicating a strong market debut. The shares hit a high of ₹161 and a low of ₹146 during the trading session.
At 10:33 am, the stock further climbed, gaining 5.6% to trade at ₹158.5 per share on the NSE. By 9:53 am, Bajaj Housing Finance shares had listed at ₹150 apiece on the NSE and BSE, a significant 114.2% premium over the issue price of ₹70.
Trading Statistics and Market Capitalisation
By 10:23 am, Bajaj Housing Finance had recorded impressive trading volumes, with a traded volume of 3,964.13 lakhs and a traded value of ₹6,114.2 crore. The company’s market capitalisation stood at ₹1,30,442.7 crore, highlighting its robust performance and market confidence.
At 10:11 am, following its impressive debut, Bajaj Housing Finance shares continued their upward trajectory, rising by 6.1% to ₹159.1 on the NSE. The company’s journey from the IPO to its strong market debut has been closely followed by investors, and the stock’s performance is a testament to the company’s growth potential.
Bajaj Housing Finance’s strong listing and subsequent price surge reflect both investor confidence and the company’s solid financial foundation. As the second-largest HFC in India, the company’s growth trajectory, diverse product portfolio, and adherence to RBI regulations have positioned it as a formidable player in the housing finance sector.
Keep an eye on Bajaj Housing Finance as it continues to expand its market share and deliver value to its investors. Interested in learning more about the stock market and housing finance? Stay updated with the latest financial insights and news!
