Bajaj Housing Finance Shares Surge 114% on Market Debut

Bajaj Housing Finance's IPO success leads to significant drops in other major housing finance stocks.

Overview

Bajaj Housing Finance Ltd. listed on both NSE and BSE at ₹150 per share, a 114% premium over its issue price of ₹70.
The IPO, which concluded on September 11, was subscribed nearly 67 times, attracting bids worth approximately $38.60 billion.
Shares of major housing finance companies like LIC Housing Finance, PNB Housing Finance, and HUDCO saw significant declines in intraday trading following Bajaj Housing Finance's strong debut.
LIC Housing Finance shares dropped by 5.59%, PNB Housing Finance by 4.91%, and HUDCO by 1.11% during early trading hours.
Bajaj Housing Finance is now the second-largest home loan provider in India by assets under management.