Bajaj Housing Finance IPO Raises Rs 6500 Crore, Boosts Parent Stock

Bajaj Housing Finance IPO raises Rs 6,500 crore. The strong debut of Bajaj Housing Finance drives Bajaj Finserv’s stock to a new 52-week high. Bajaj Finance’s stock also sees a rise on the positive sentiment from the IPO.

CONTENTS:

• Bajaj Finserv stock hits 52-week high.
• Bajaj Finance stock rises on strong debut.
• Bajaj Housing Finance IPO raises Rs 6,560 crore.

Shares of Bajaj Finserv reached a new 52-week high on Monday, coinciding with the impressive debut of Bajaj Housing Finance on the BSE and NSE. Bajaj Housing Finance shares were listed at Rs 150, reflecting a 114% gain from the IPO price of Rs 70 per share. Prior to the listing, the shares were trading in the grey market at a premium of Rs 73-75 per share.

Riding on the positive sentiment from this listing, Bajaj Finserv, the parent company of Bajaj Housing Finance, saw its stock hit a 52-week high of Rs 1,920.85, up from the previous close of Rs 1,893.75 on the BSE. The company’s market capitalization surged to Rs 2.98 lakh crore, with the stock opening at Rs 1,900. Bajaj Finserv’s stock is currently trading above its 5-day, 20-day, and 50-day moving averages but remains below the 100-day and 200-day moving averages.

Over the past year, the stock has gained 21%, with an 11% increase in 2024. A total of 0.81 lakh shares changed hands, amounting to a turnover of Rs 15.26 crore on the BSE. The stock had hit a 52-week low of Rs 1,419 on June 4, 2024.

Bajaj Housing Finance IPO Raises Rs 6500 Crore Shares of Bajaj Finance climbed by 1.09% to Rs 7,680 following the strong debut of Bajaj Housing Finance on the BSE and NSE. Bajaj Finance shares are currently trading above their 5-day, 10-day, 20-day, 30-day, 50-day, 100-day, 150-day, and 200-day moving averages, indicating a bullish trend for the non-banking financial company (NBFC) stock.

On Monday, 0.36 lakh shares of Bajaj Finance were traded, generating a turnover of Rs 27.28 crore. The stock’s relative strength index (RSI) is at 72.3, suggesting it is in the overbought zone (an RSI above 70 indicates overbought conditions, while below 30 signals oversold conditions). Additionally, Bajaj Finance has a one-year beta of 1, indicating average volatility over the past year.

Bajaj Housing Finance IPO Raises Rs 6500 Crore The Bajaj Housing Finance IPO took place from September 9 to 11, with a price range of Rs 66-70 per share and a lot size of 214 shares. Through this primary offering, the company raised Rs 6,560 crore, which included Rs 3,560 crore from the sale of new shares and an offer-for-sale (OFS) of Rs 3,000 crore by Bajaj Finance.

Founded in 2008, Bajaj Housing Finance is a non-deposit-taking housing finance company (HFC) that has been registered with the National Housing Bank (NHB) since 2015. The company has been providing mortgage loans since the financial year 2018. It operates under the Bajaj Group, a diversified conglomerate with business interests across multiple sectors.