Bajaj Housing Finance Limited is set to make its debut in the Indian primary market with its Initial Public Offering (IPO) scheduled to open on September 9, 2024. The Non-Banking Financial Company (NBFC) has recently filed its Red Herring Prospectus (RHP) with the Securities and Exchange Board of India (SEBI) and will offer shares to the public until September 11, 2024.

IPO Details:

Offer Structure: The IPO will include both fresh shares and an Offer for Sale (OFS). Bajaj Housing Finance aims to raise approximately ₹6,560 crore through this public issue. The offering comprises ₹3,560 crore in fresh shares and ₹3,000 crore through the OFS.

Subscription Dates: The IPO subscription window opens on September 9, 2024, and closes on September 11, 2024. The allotment date is projected to be September 12, 2024, with the listing on the stock exchanges expected on September 16, 2024.

Market Sentiment and Grey Market Premium (GMP):

GMP Insights: The grey market for Bajaj Housing Finance IPO is currently very bullish. Shares are trading at a premium of ₹61 in the grey market today, which is a significant increase from ₹56 on Sunday. Over the past two days, the GMP has surged by approximately 45%, reflecting strong market optimism. The rising GMP indicates positive expectations among investors, although the official price band for the IPO has yet to be announced.

Potential Impact: The grey market sentiment is expected to improve further once the company reveals the IPO price band. This could drive additional interest and potentially higher premiums in the grey market.

Shareholder Quota:

Eligibility: Existing shareholders of Bajaj Finance or Bajaj Finserv, who held shares as of the end of the trading session last Friday, are eligible to apply for the IPO under the shareholder's quota. SEBI rules allow for preferential allotment to these shareholders, providing them with an opportunity to invest in the subsidiary company.

Market Expectations:

The IPO is expected to generate significant interest due to the high GMP and the strong performance of the parent companies. The positive sentiment in the grey market and the shareholder quota eligibility add to the appeal of the Bajaj Housing Finance IPO.

Investors are advised to keep an eye on the official announcement of the IPO price band and monitor market conditions as the subscription period approaches. The upcoming public offering presents an opportunity for investors to be part of a major NBFC expansion and to benefit from the company's growth prospects.

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