By The share allotment for the Bajaj Housing Finance IPO has been declared, and investors can now check their allotment status via Kfin Technologies Ltd, the registrar for the issue.
The non-deposit-taking housing finance company’s IPO, which opened for subscription on September 9 and closed on September 11, garnered a strong response across all investor categories. By the end of the third day, the IPO was oversubscribed 63.61 times, according to data from the BSE.
The overwhelming interest came from various investor groups, with non-institutional investors leading the charge, subscribing to the issue 41.51 times. Qualified institutional buyers followed with a subscription rate of 209.36 times, indicating significant demand from large, institutional players.
Retail investors, though comparatively lower, still showed healthy participation, subscribing 7.04 times. The employee portion of the IPO was subscribed 2.05 times, while shareholders oversubscribed their allotment by 17.53 times, making the IPO a robust success across the board.
Investors eager to check their allotment status can do so by visiting the registrar’s website, Kfin Technologies, where they can enter details such as their PAN, Demat account number, or application number to see if they have been allocated shares.
Those who were unsuccessful in getting shares will receive a refund, which is expected to be initiated on Friday, September 13. For those allocated shares, the corresponding amounts will be deposited into their Demat accounts on the same day.
The Bajaj Housing Finance IPO has been highly anticipated in the market, and it is now scheduled to list on the stock exchanges on Monday, September 16. The GMP, an indicator of investor sentiment before the stock’s official listing, has been consistently rising, with the current GMP standing at ₹77. This suggests that Bajaj Housing Finance shares are trading at a premium in the unofficial market, reflecting the strong demand and optimistic outlook surrounding the company.
Experts have been closely watching the grey market activity, and based on current trends, Bajaj Housing Finance shares are expected to list at a price of around ₹147, assuming the upper end of the IPO price band and the current grey market premium. This projected listing price represents a 110% increase from the issue price of ₹70 per share, signaling the potential for substantial returns for those who secured allotments in the IPO.
The grey market premium has fluctuated between ₹36 and ₹77 over the past 22 sessions, with the ₹77 level being the highest observed so far. This upward movement in the GMP is generally a positive sign, indicating that market participants are bullish on Bajaj Housing Finance’s prospects and expect the stock to perform well once it begins trading on the exchanges.
For investors looking to confirm their allotment status, the process is straightforward. By visiting the Kfin Technologies website and following a few simple steps, individuals can quickly determine if they have been allocated shares. The status can also be checked on the official websites of both BSE and NSE, where investors can input their PAN or application number to access the relevant information.
Those who missed out on the allotment or are curious about the IPO’s performance can monitor its grey market activity and look forward to its official listing next Monday. Experts have expressed optimism about the stock’s potential to deliver significant returns, particularly given the strong subscription numbers and rising GMP.
