The highly anticipated IPO of Bajaj Housing Finance by the Bajaj Group is set to close for bidding on Wednesday. So far, the offering has garnered significant interest, with bids surpassing Rs 81,000 crore for the shares available in the ex-anchor book as of 11:45 am on September 11. This strong investor response, combined with the solid reputation of the parent company and attractive valuations, has led to a robust grey market premium (GMP) for the stock.

The GMP currently stands at Rs 70 per share, indicating a potential 100 percent gain for investors at listing, which is expected on Monday, September 16. The GMP has remained strong in the unofficial market, at Rs 65 on the second day, up from Rs 57 on the first day, and has consistently been above Rs 50 since the IPO was officially announced.

Aiyub Yacoobali, Chairman and Managing Director of South Gujarat Shares And Sharebrokers, has highlighted the promising outlook for Bajaj Housing Finance, noting its strong parentage and favorable grey market premium. He emphasized that the company benefits from access to a large population and attractive funding costs. As a leading player in the housing finance and real estate sectors, Yacoobali believes Bajaj Housing Finance is poised to deliver substantial returns similar to its parent company.

The IPO for Bajaj Housing Finance is priced between Rs 66-70 per share, with a lot size of 214 shares, aiming to raise Rs 6,560 crore. Established in 2008, the company is a non-deposit-taking housing finance firm registered with the National Housing Bank (NHB) since 2015 and has been providing mortgage loans since the 2018 financial year.

The Bajaj Housing Finance IPO is managed by a team of book running lead managers including Kotak Mahindra Capital Company, BofA Securities India, Axis Capital, Goldman Sachs (India) Securities, SBI Capital Markets, JM Financial, and IIFL Securities. Kfin Technologies is serving as the registrar for the offering.