Bajaj Housing Finance IPO Listing, Bajaj Housing Finance Share Price & IPO Listing Updates September 18, 2024: Bajaj Housing Finance shares Wednesday experienced a sharp fall after a continued rally for the third consecutive day. On Tuesday, the stock closed at its upper circuit on the NSE and BSE at ₹181.50 and ₹181.48, respectively. Shares debuted on the NSE and BSE at ₹150, a premium of 114.2% against the issue price of ₹70. 

Brokerage Phillip Capital had recently initiated coverage on the stock with a buy rating at a TP of ₹210. However, Shweta Daptardar, Vice President - Equity Research Analyst BFSI of Elara Capital, observed that the current valuation is expensive.

Bajaj Housing Finance share price closing figures: Bajaj Housing Finance shares end 5% lower

On day 3, Bajaj Housing Finance stock closed 4.58% downward on the NSE at ₹173.19.

On the BSE, the stock closed 4.65% lower at ₹173.04.

In early trade on Wednesday, the stock had hit a fresh high on the ​NSE ​and ​BSE ​at ₹188.50 and ₹188.45, respectively.

Phillip Capital had recently initiated coverage on the stock with a buy rating at a TP of ₹210. 

However, Shweta Daptardar, Vice President - Equity Research Analyst BFSI of Elara Capital, observed that the current valuation is expensive.

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ALL UPDATES

  • September 18, 2024 14:06

    Bajaj Housing Finance stock plunged 4.42% on the NSE, trading at ₹73.47 as at 2.05 pm.

  • September 18, 2024 13:05

    Bajaj Housing Finance stock declined 4.13% to trade at ₹174 on the NSE as at 1.05 pm.

  • September 18, 2024 12:15

    Bajaj Housing Finance stock in focus

    Bajaj Housing Finance stock declined 4% on the NSE, trading at ₹74.24 as at 12.14 pm.

  • September 18, 2024 11:41

    Bajaj Housing Finance stock fell 3.49% on the NSE to trade at ₹175.16 as at 11.40 am.

  • September 18, 2024 11:13

    Bajaj Housing Finance stock in news: Here is what Krishna Appala, Senior Research Analyst of Capitalmind Research said

    Krishna Appala, Senior Research Analyst of Capitalmind Research, said, “While Bajaj Housing’s long-term prospects remain strong, at these current levels, the near-term growth seems fully priced in, and the risk-reward ratio does not appear favourable.”

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  • September 18, 2024 11:10

    Bajaj Housing Finance stock in news: Here is what Shweta Daptardar, Vice President - Equity Research Analyst, BFSI, of Elara Capital, said:

    Strong management, robust risk management practices, and superior asset quality (86 per cent of Bajaj Housing Finance home loans’ customer base, which is focused on the mass affluent segment has a 750+ CIBIL score) were the key pointers wherein Bajaj Housing Finance will continue to demand superior valuation, according to Shweta Daptardar, Vice President - Equity Research Analyst, BFSI, of Elara Capital. 

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  • September 18, 2024 10:34

    Bajaj Housing Finance stock declined 2.35% to trade at ₹177.24 as at 10.32 am.

  • September 18, 2024 09:56

    Bajaj Housing Finance stock outlook as at 10 am: Stock declines 3%

    Bajaj Housing Finance stock declined 2.56% on the BSE to trade at₹176.84 as at 9.54 am.

    On the NSE, the stock fell 2.80% to trade at ₹176.41.

  • September 18, 2024 09:53

    Bajaj Housing Finance stock in focus

    BHFL shares hit a fresh high on the NSE and BSE on Wednesday’s early trade at ₹188.50 and ₹188.45, respectively.

  • September 18, 2024 09:49

    Bajaj Housing Finance stock in focus: Phillips Capital initiates coverage with buy call

    Madhu Balaji of businessline writes

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  • September 17, 2024 15:56

    Bajaj Housing Finance stock closing figures: Shares end 10%

    Shares of Bajaj Housing Finance closed 10% higher, hitting the upper circuit on the NSE at ₹181.50. 

    On the BSE, it closed at ₹181.48, higher by 9.99%, also its upper circuit.

  • September 17, 2024 15:04

    Bajaj Housing Finance stock trades at its upper circuit on the NSE at ₹181.50 as at 3 pm.

  • September 17, 2024 14:27

    Shares of Bajaj Housing Finance continued to trade 10% higher at ₹181.50 on the NSE as at 2.25 pm.

  • September 17, 2024 13:03

    Bajaj Housing Finance stock climbs 10%

    Bajaj Housing Finance stock jumped 10% to trade at ₹181.50 on the NSE as at 1 pm.

  • September 17, 2024 12:50

    Bajaj Housing Finance shares hit fresh high

    Shares of Bajaj Housing Finance surged after a stellar market debut, touching a fresh high on the second day. The stock surpassed the ₹180-mark, hitting ₹181.48 on the BSE, and ₹181.50 on the NSE, up by 10 per cent on Tuesday.

    The company’s market capitalisation rose to ₹1.49 lakh crore.

    The stock debuted at ₹150 on the NSE and BSE on Monday, at a premium of 114 per cent over the issue price of ₹70.

    The stock of Bajaj Housing Finance traded higher by 9.65 per cent at ₹180.92 on the NSE as of 12.19 pm, and on the BSE, it climbed 9.55 per cent to ₹180.75.

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

    The ₹6,560-crore Bajaj Housing Finance IPO had a fresh issue of equity shares of up to ₹3,560 crore and an offer-for-sale (OFS) of ₹3,000 crore by promoters.

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  • September 17, 2024 12:05

    Bajaj Housing Finance shares traded at ₹179.30 on the NSE, higher by 8.67% as at 12.04 pm.

  • September 17, 2024 11:06

    Shares of Bajaj Housing Finance were up 8.98% to trade at ₹179.81 as at 11.05 am.

  • September 17, 2024 10:34

    Bajaj Housing Finance shares trade 7.43% higher on the BSE at ₹177.25 as at 10.33 am.

  • September 17, 2024 09:51

    Bajaj Housing Finance share price in focus: Bajaj Housing Finance stock rallies 9%

    Bajaj Housing Finance stock jumped 8.45% to ₹178.95 on the NSE as at 9.49 am.

  • September 17, 2024 09:48

    Shares of Bajaj Housing Finance have crossed ₹180 mark to hit ₹181.50 on the NSE and ₹181.48 on the BSE on Tuesday.

  • September 16, 2024 15:38

    Bajaj Housing Finance closing figure updates

    Bajaj Housing Finance stock closed 10% on the NSE at ₹165, and 9.99% on t he BSE at ₹164.99.

  • September 16, 2024 15:04

    Bajaj Housing Finance stock outlook as at 3 pm

    Shares of Bajaj Housing Finance traded at ₹165 on the NSE, higher by 10%.

  • September 16, 2024 14:27

    Bajaj Housing Finance stock in news | Bajaj Housing shares double after India’s biggest IPO of 2024: Bloomberg

    Bajaj Housing Finance Ltd.’s shares more than doubled in their trading debut after India’s biggest new listing of the year, reflecting a surge of local enthusiasm toward initial public offerings that continue to fuel concern about gush of liquidity pushing up valuations. 

    Shares of the home-loan unit of India’s largest shadow lender climbed as much as 136% to 165 rupees versus an offer price of 70 rupees, set for the best ever first-day gains for IPOs that raised more than $500 million. The company’s 65.6-billion rupee ($781 million) IPO drew bids of over $39 billion last week.

    India has been a bright spot globally for capital raising, with investors drawn to first-day gains of more than 30% on average this year. A study by the market regulator published this month showed that most retail investors end up selling their half of their holdings in IPOs within a week, underscoring the frenzy that is making authorities nervous. 

    “Domestic investors are looking for IPO investments as this segment has some valuation comfort versus other parts of the market that remain overheated,” said Pranav Bhavsar, a co-founder of Trudence Capital Advisors Pvt. “The market is flushed with liquidity.”

    The buoyant demand from local retail investors and institutions have led to new listings in India raising $8.6 billion in 2024, exceeding proceeds for each of the last two years, data compiled by Bloomberg show. The rush has been driven in part by the rich valuations for listed stocks that are among the world’s priciest. 

    Bajaj Housing’s IPO debut is also benefiting from its parent’s strong brand recall and a history of stellar returns. Bajaj Finance, part of India’s oldest conglomerates, is straddles all segments of financial services, and has also forayed into asset management. The company’s shares have returned about 40% annually over the past 10 years, more than double the NSE Nifty 50 Index.

    “The group has a proven track record of wealth creation,” Bhavsar said. “They have come out with a public offering after a long gap, a factor investors had in mind while bidding” despite the higher valuation compared with peers, he said.

    Bajaj Housing also enjoys access to low-cost funds due to its strong parentage, which gives it an edge over peers, Mumbai-based brokerage Sharekhan said in a note before the IPO. “The company continues to outperform the industry in the last five years with a ~29% CAGR and the growth outlook remains strong.”

    The company’s shares held the initial advance, joining the other large listings in India this year that have built on their first-day gains. Last month, Ola Electric Mobility Ltd. raised more than $730 million, and baby-products retailer Brainbees Solutions Ltd. garnered about $500 million. Shares of both companies are trading more than 35% above their issue prices.

    More major IPOs are expected — Hyundai Motor Co. will likely raise as much as $3.5 billion from the listing of its Indian unit in the coming months, Bloomberg News reported in July. South Korea’s LG Electronics Inc. has picked banks for a potential IPO of its Indian business that could raise as much as $1.5 billion, according to people familiar with the matter.

    Separately, Indian food-delivery platform Swiggy Ltd. is also said to be considering filing publicly for a listing as soon as this week, according to people familiar with the matter, who added that the firm may seek to raise more than $1 billion.

    Bajaj Housing’s IPO included sale of new shares worth as much as 35.6 billion rupees, while founder Bajaj Finance offered shares worth 30 billion rupees. The IPO was managed by Kotak Mahindra Capital Co., Bank of America Corp, Axis Capital Ltd., Goldman Sachs Group, SBI Capital Markets Ltd., JM Financial Ltd. and IIFL Securities Ltd. 

    Bloomberg

  • September 16, 2024 14:17

    Bajaj Housing Finance share price update

    Bajaj Housing Finance stock continues to trade at ₹165 on the NSE, higher by 10% as at 2.15 pm. 

    On the BSE, the stock surged 9.99% to ₹164.99.

  • September 16, 2024 13:08

    Bajaj Housing Finance stock surged 10% to trade at ₹165 on the NSE as at 1.05 pm.

  • September 16, 2024 12:29

    Bajaj Housing Finance listing 

    Shares of Bajaj Housing Finance Ltd made a solid market debut on Monday, listing with a huge premium of 114.28 per cent, against the issue price of Rs 70.

    The stock got listed at Rs 150 on both the BSE and NSE, reflecting a jump of 114.28 per cent from the issue price.

    Later, it zoomed 129.88 per cent to Rs 160.92 on the BSE.

    At the NSE, shares of the firm surged 130 per cent to Rs 161.

    The company’s market valuation stood at Rs 1,30,751.90 crore.

    (Inputs from PTI)

  • September 16, 2024 12:28

    Bajaj Housing Finance IPO

    The Rs 6,560-crore Bajaj Housing Finance initial public offer of Bajaj Housing Finance Ltd received 63.60 times subscription on September 11, the last day of bidding, amid overwhelming participation from institutional buyers.

    The initial share sale had a price band for the offer at Rs 66-70 per share.

    The IPO had a fresh issue of equity shares of up to Rs 3,560 crore and an offer-for-sale (OFS) of equity shares to the tune of Rs 3,000 crore by parent Bajaj Finance.

    In the equity market, the 30-share BSE Sensex climbed 293.4 points to reach a fresh lifetime high of 83,184.34. The NSE Nifty jumped 89.2 points to hit a new record peak of 25,445.70.

    The share sale was conducted to comply with the Reserve Bank of India’s (RBI) regulations, which require upper-layer non-banking finance companies to be listed on stock exchanges by September 2025.

    Proceeds from the fresh issue will be used to augment the company’s capital base to meet future capital requirements.

    It is a non-deposit-taking housing finance company registered with the National Housing Bank in September 2015.

    The firm offers financial solutions for purchasing and renovating residential and commercial properties.

    It has been identified and categorised as an “upper layer” NBFC by the RBI in India and its comprehensive mortgage products include home loans, loans against property, lease rental discounting and developer financing.

    (inputs from PTI)

  • September 16, 2024 12:15

    Bajaj Housing Finance: Total market cap is at ₹1,37,081.29 crore

    (NSE data)

  • September 16, 2024 12:06

    Bajaj Housing Finance share price in focus: Shares rally 10%

    Bajaj Housing Finance stock rallied 9.53% to trade at ₹164.30 on the NSE as at 12 noon. 

    On the BSE, the stock was up 9.61% to ₹164.42.

  • September 16, 2024 11:14

    Bajaj Housing Finance share price today: Bajaj Housing Finance stock rises over 5%

    Bajaj Housing Finance stock trades 5.80% higher on the NSE at ₹158.70 as at 11.12 am.

  • September 16, 2024 11:05

    Bajaj Housing Finance listing price: Bajaj Housing Finance shares debut at 2.14x premium

    Bajaj Housing Finance shares made a spectacular debut on the bourses, listing at a premium of 2.14 times its issue price of ₹70 on BSE.

    The shares are currently trading at ₹159.01 apiece, up about 127 per cent over the issue price.

    The housing finance company raised ₹6,560 crore via an IPO, comprising a net public issue of ₹4,802 crore and an anchor investor portion of ₹1,758 crore.

    The IPO received an overwhelming response, with 88.94 lakh applications from investors, aggregating ₹3.24 lakh crore at the upper end of the price band (₹66-70).

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  • September 16, 2024 10:24

    Bajaj Housing Finance stock in focus:

    Bajaj Housing Finance stock surged to hit ₹160.92 on the BSE, and ₹161 on the NSE after its market debut.

  • September 16, 2024 10:23

    Bajaj Housing Finance IPO Listing today: Bajaj Housing Finance shares surge after debut at a 114% premium

    Bajaj Housing Finance stock surged 4.99% on the NSE, trading at ₹157.49 as at 10.22 am.

  • September 16, 2024 10:21

    Shares of Bajaj Housing Finance were listed on the NSE and BSE at ₹150, a premium of 114.2% against the issue price of ₹70.

  • September 16, 2024 10:07

    Bajaj Housing Finance IPO listing today: Bajaj Housing Finance listed at ₹150

    Bajaj Housing Finance shares were listed on the NSE and BSE at ₹150 each, against the issue price of ₹70.

  • September 16, 2024 09:57

    Bajaj Housing Finance stock in news | Bajaj Housing gears up for India’s biggest trading debut of 2024: PTI

    Bajaj Housing Finance Ltd.’s shares are set to begin trading on Monday following an initial public offering that was oversubscribed by more than 60 times.

    The unit of India’s largest shadow lender, whose IPO raised ₹65.6 billion ($781 million) in the nation’s biggest deal so far this year, drew bids exceeding $39 billion last week. That’s more than 1 per cent of the country’s gross domestic product. Shares were sold at ₹70 each. Trading begins at 10 am in Mumbai.

    The stellar response underscores the strong appetite for first-time share sales in India, a bright spot globally for capital raising, as investors see businesses booming in the world’s fastest-growing major economy. Helped by buoyant demand retail investors, new listings in the South Asian nation have raised $8.6 billion in 2024, exceeding proceeds for each of the last two years, data compiled by Bloomberg show.

    Investors have been drawn to first-day gains, which have averaged about 30 per cent this year.

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