Bajaj Housing Finance is scheduled to make its stock market debut early next week following a highly successful performance in the primary market. The public issue saw an unprecedented subscription amount, totaling Rs 3.23 lakh crore. This surge was fueled by strong market sentiment and robust demand, particularly from retail investors.

The impressive subscription figure of over Rs 3 lakh crore for the Bajaj Housing Finance IPO is equivalent to more than 1 percent of India’s estimated nominal GDP at constant prices, projected at Rs 295.36 lakh crore for the fiscal year 2023-24.

Bajaj Housing Finance shares are set to be listed on both the BSE and NSE on Monday, 16 September at 10 am.

The IPO, which closed on Wednesday, 11 September, attracted subscriptions exceeding 1% of India’s GDP, with the grey market premium (GMP) for Bajaj Housing Finance shares rising to Rs 79 per share, reflecting a 113 percent premium over the issue price just before the listing.

The Rs 6,560 crore IPO has broken records, surpassing the previous high set by Coal India in 2008, which garnered Rs 2.36 lakh crore in subscriptions. Earlier this year, Premier Energies and Tata Technologies saw bids of Rs 1.48 lakh crore and Rs 1.56 lakh crore, respectively.

Bajaj Housing Finance has garnered strong investor interest for several reasons. As the second-largest player in the housing finance industry, it offers a broad range of products and benefits from the robust backing of its parent company, Bajaj Finance, which is expected to drive future growth.

The company boasts a quality asset portfolio with minimal exposure to high-risk assets and maintains stable profitability.

The share sale was carried out to meet the Reserve Bank of India’s (RBI) mandate requiring top-tier non-banking finance companies to be listed on stock exchanges by September 2025.

The funds raised through this IPO will strengthen the company’s capital base to support its future financial needs.

Established as a non-deposit-taking housing finance company in September 2015 and registered with the National Housing Bank, Bajaj Housing Finance offers financial solutions for purchasing and renovating both residential and commercial properties.

Classified by the RBI as an “upper layer” NBFC, the company provides a range of mortgage products, including home loans, loans against property, lease rental discounting, and developer financing. Recently, housing finance companies like Aadhar Housing Finance and India Shelter Finance have also made their stock market debuts.