Zerodha reported an average delay of two hours in generating the mandate, attributing the issue to the sponsor banks of the IPO
The initial share sale got bids for 5,45,85,77,822 shares against 72,75,75,756 shares on offer, as per NSE data
Technical chart suggests that PNB Housing Finance and Repco Home Finance can potentially rally up to 14 per cent from present levels.
Market players expect cumulative bids between Rs 2 trillion and Rs 3 trillion for the four IPOs that hit the market this week, which are looking to raise a combined Rs 8,390 crore
This week alone, IPOs of 16 companies open for subscription, including Bajaj Housing Finance's smaller peer Sammaan Capital
Share market today: Market in Asia dragged after worries about a possible US economic downturn slammed Wall Street on Friday. Bajaj Housing Finance IPO opens, while Gala Precision will list.
The IPO market will be bustling next week, with four companies, including Bajaj Housing Finance, set to launch their initial share-sale to raise a total of Rs 8,390 crore. Besides these four main-board IPOs, nine SMEs are preparing to debut with their maiden public issues next week, targeting to collect Rs 254 crore. Together, these 13 firms are looking to raise Rs 8,644 crore through IPO. Munish Aggarwal, Managing Director Head - Equity Capital Markets, Equirus, expects the next two weeks to be hectic in terms of issuance activity in IPO markets. "While this seems to indicate that the markets are overheating, we believe that this is more symptomatic of the attempt by most issuers who have valid Sebi observations and decent traction with investors to try and utilize their financials for Fiscal 2024 to launch IPOs," he said. According to Sebi, financial data in the Red Herring Prospectus (RHP) must be less than six months old at the time of the IPO. Therefore, September is the last
At the upper end of this price band, Bajaj Housing is valued at a price-to-book ratio of 3.2 times on a post-money basis
As of Aug. 28, about 200 companies have raised $7.11 billion through IPOs this year, more than double in the same period last year, according to LSEG data
Bajaj Finance's housing finance arm Bajaj Housing Finance filed its Red Herring Prospectus (RHP) for an up to Rs 7,000-crore IPO
Sebi has also issued the observation letter or approval to IPOs of four other companies, including Rekha Rakesh Jhunjhunwala-backed Baazar Style Retail
The funds raised from Bajaj Housing Finance's fresh issue will be used to augment its capital base to meet future business requirements
Shares of Bajaj Finance gained 4.1 per cent at Rs 7,201 per share on the BSE in Friday's intraday trade
The IPO would include a sale of shares by existing shareholders
The IPO would be subject to market conditions, approvals and regulatory clearances, the company added.
Bajaj Housing Finance is a 100 per cent subsidiary of Bajaj Finance
As per reports, the company is planning an IPO of its housing finance arm, Bajaj Housing Finance (BHFL) at a valuation of Rs 80,000-85,000 crore.
The action stands in violation of certain provisions of the 'Non-Banking Financial Company - Housing Finance Company (Reserve Bank) Directions, 2021' issued by the RBI
In terms of the framework, once an NBFC is classified as NBFC-UL, it shall be subject to enhanced regulatory requirement, at least for a period of five years
Punjab & Sind Bank will raise funds through the sale of certificates of deposit maturing in three months