Bajaj Housing Finance makes stellar debut, hits 10% upper circuit: Check how much investors gained from IPO listing

Bajaj Housing Finance Limited made a bumper debut on the BSE and NSE on Monday, September 16. The shares listed at ₹150 apiece on the NSE, a premium of 114% compared to the issue price of ₹70. The stock also opened at ₹150 apiece on the BSE.

As many as 6,269.12 lakh shares of Bajaj Housing Finance changed hands on the NSE till 12:41 pm. Bajaj Housing Finance's total market capitalisation stood at ₹1.37 lakh crore.

Bajaj Housing Finance aimed to raise ₹6,560 crore via its IPO. The price band for Bajaj Housing Finance IPO price band was fixed at ₹66 to ₹70 per share. Here’s a look at how much money successful bidders from different investor categories would have earned from their investment in Bajaj Housing Finance IPO:

Retail investors double their IPO investment

The minimum bidding quantity for retail investors applying for Bajaj Housing Finance IPO was 214 shares. Retail investors who were allotted shares in the primary issue would have made a profit of at least ₹17,120 (₹80 x ₹214) as soon as the stock started trading on the exchange.

The minimum lot size to apply for the issue for Small Non-Institutional Investors (sNIIs) was fixed at 14 lots or 2,996 shares. Successful snIIs who were allotted shares against their bids would have earned a profit of at least ₹2,39,680 (₹80 x 2,996). Likewise, Big Non-Institutional Investors (bNIIs) would have earned a minimum profit of ₹11,47,040 (₹80x14,338).

Bajaj Finserv hits 52-week high

After a bumper listing, Bajaj Housing Finance shares surged 10% against the listing price and were locked at the upper circuit limit at ₹165 apiece on the NSE. On the other hand, shares of the company’s promoters, Bajaj Finserv scaled to a 52-week high of ₹1,921 per share. However, the stock saw profit bookings, Bajaj Finance Limited and Bajaj Finserv, declined up to 3.6% to hit intraday lows of ₹7,322 apiece and ₹1,838.05 apiece, respectively.

The upward movement in promoter group stocks was driven by investor enthusiasm following the strong listing of Bajaj Housing Finance.

LIC Housing Finance and other NBFCs stock falls

Meanwhile, LIC Housing Finance Limited shares also declined over 6% to hit an intraday low of ₹678 apiece on the NSE following the listing of Bajaj Housing Finance shares. Shares of other housing finance companies, such as Aavas Financiers, declined over 3% to an intraday low of ₹1796.05 per share, while PNB Housing Finance Ltd fell over 5% to trade at an intraday low of ₹1,071.05 apiece on the NSE.