Bajaj Housing Finance inventory rose as a lot as 130% to 161 Rupees earlier than paring some features to commerce at 125% greater. File
Shares of Bajaj Housing Finance more-than-doubled of their buying and selling debut on Monday (September 16, 2024), giving the corporate a market capitalisation of 1.34 trillion Rupees ($16 billion) and making it Most worthy listed dwelling mortgage financier.
The inventory rose as a lot as 130% to 161 Rupees earlier than paring some features to commerce at 125% greater. The inventory was listed at 150 Rupees on the Nationwide Inventory Change of India, in contrast with a proposal worth of 70 Rupees.
The second-biggest dwelling mortgage financier by Belongings Beneath Administration (AUM), Bajaj Housing Finance’s $782 million IPO had attracted bids price about $38.60 billion final week, making it essentially the most sought-after public itemizing this yr in a red-hot IPO market.
Backed by the 100-year-old Bajaj group, the providing drew traders because of its pedigree, an ongoing IPO euphoria and booming demand for luxurious houses, that’s set to push dwelling costs greater within the nation.
A rally within the Indian inventory market has resulted in additional than 200 corporations elevating greater than $7 billion this yr, greater than double the quantity raised throughout the identical interval final yr, London Inventory Change Group information confirmed. ($1 = 83.8890 Indian Rupees)
Printed – September 16, 2024 11:00 am IST
