Bajaj Housing Finance IPO Allotment: How to Check Application Status & GMP After Record-Breaking Bidding
Bajaj Housing Finance company attracted bids for 46,28,35,82,522 equity shares amounting to Rs 3.24 lakh crore, becoming the first Indian issue to receive such a solid response.
Bajaj Housing Finance is scheduled to finalise share allotment basis on Thursday, September 12. Bidders will get the messages, alerts or emails for debit of their funds or revocations of their IPO mandate either on Friday or latest by weekend. The Bajaj Group backed issue had received a historic response from the investors during the three-day bidding.
The IPO of Bajaj Housing Finance was open for bidding between September 9 and September 11. The Pune-based company had offered its shares in the fixed price band of Rs 66-70 per share with a lot size of 214 shares. The company raised Rs 6,560 crore via its primary offering, which included a fresh share sale of Rs 3,560 crore and an offer for sale worth Rs 3,000 crore by Bajaj Finance.
The issue saw a solid bidding and was overall subscribed 63.61 times. The quota for qualified institutional bidders (QIBs) was booked a stellar 209.36 times The quota for non-institutional investors was subscribed 41.51 times. The portion reserved for shareholders, employees and retail investors saw bidding for 17.53 times, 2.05 times and 7.04 times, respectively.
Bajaj Housing Finance became the first Indian IPO to fetch bids worth over Rs 3 lakh crore. The company attracted bids for 46,28,35,82,522 equity shares amounting to Rs 3.24 lakh crore. Only, the QIB portion itself fetched bids for 37,17,70,59,692 shares worth more than Rs 2.60 lakh crore for 17,75,75,756 shares offered for this category.
Grey market premium (GMP) of Bajaj Housing Finance has seen a sharp surge after record breaking bidding for the issue. Last heard, the company was commanding a premium of Rs 75 per share, suggesting a listing pop of around 104 per cent for the investors. However, it was around Rs 70 apiece, when the issue had closed for the bidding.
Incorporated in 2008, Bajaj Housing Finance is a non-deposit-taking housing finance company (HFC) registered with the National Housing Bank (NHB) since 2015 and has been offering mortgage loans since the financial year 2018. It is part of the Bajaj Group, a diversified group of companies with interests in various sectors.
Brokerages were mostly positive on the issue suggesting investors to subscribe to it for a long term citing its solid parentage, strong market share, rising AUM, reasonable cost of funds and solid growth potentials. However, asset concentration and exposure real estate is the key concern for the company.
BofA Securities India, Axis Capital, Kotak Mahindra Capital Company, Goldman Sachs (India) Securities, SBI Capital Markets, JM Financial and IIFL Securities are the book running lead managers of the Bajaj Housing Finance IPO, while Kfin Technologies is the registrar for the issue. Shares of the company shall be listed on both BSE and NSE likely on September 16, Monday.
Investors, who had bid for the issue of Bajaj Housing Finance, can check the allotment status on the Bombay Stock Exchange (BSE) website:
1) Visit https://www.bseindia.com/investors/appli_check.aspx
2) Under the issue type, click Equity
3) Under the issue name, select Bajaj Housing Finance Ltd in the dropbox
4) Write the application number
5) Add the PAN card ID
6) Click on ‘I am not a Robot’ and hit submit
The registrar is a Sebi-registered entity, qualified to act as such and which electronically processes all applications and carries out the allotment process, as per the prospectus. The registrar is responsible for complying with the timelines for updating the electronic credit of shares to successful applicants, dispatching and uploading refunds, and attending to all investor-related queries.
1) Go to the web portal of KFin Technologies Limited
2) Select the IPO in dropbox whose name will be populated only if the allotment is finalized
3) You may be required to select either one of the three modes: Application number, Demat Account number, or PAN ID
4) In application type, select between ASBA and non-ASBA
5) Enter the details of the mode you selected in Step 2
6) For security purposes, fill the captcha accurately
7) Hit submit.
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