- By Aditya Pratap Singh
- Tue, 17 Sep 2024 12:57 PM (IST)
- Source:JND
Bajaj Housing Finance Share Price: The shares of Bajaj Housing Finance surged 10% to hit the upper circuit at Rs 181.50 per share on NSE. Bajaj Housing Share price soared around 20% after a stellar listing at a premium of 114% on Monday, later the stock jumped to the level of Rs 165 per share to hit the upper circuit on listing date.
On Tuesday, the stock opened at Rs 175.50, up Rs 10.50 against its previous closing value and surged to Rs 181.50 to hit the upper circuit limit on NSE, following heavy buying.
Bajaj Housing shares recorded a stellar debut
On Monday, shares of Bajaj Housing Finance made a strong debut on the stock market. Bajaj Housing Finance shares have been listed on both exchanges - the National Stock Exchange and the Bombay Stock Exchange - at a 114 per cent premium, rising to Rs 150, up Rs 80 from the issue price of Rs 70, doubling investors' money.
The listing meets expectations because Bajaj Housing Finance shares continued to trade at a premium of more than 100 per cent in the grey market (GMP). Various market analysts have also predicted that the Bajaj Group firm will make a multi-bagger debut. The IPO was open to the public between September 9 and 11, and the company had set a price range of Rs 66-70 per share for the Rs 6,560 crore IPO. The issue was a combination of fresh shares and a sale offer by Bajaj Finance, the parent company of Bajaj Housing Finance.
Bajaj Housing Finance IPO details
The IPO was oversubscribed within hours of its launch on September 9. The company had fixed a price of Rs 66-70 per share. The issue was a fresh issue of Rs 3,000 crore and an offer to sell shares worth Rs 3,560 crore in parent company Bajaj Finance. Bajaj Housing Finance raised Rs 1,758 crore from anchor investors days before launching its IPO.