Bajaj Finance, Bajaj Finserv shares gain amid housing unit IPO buzz

Shares of Bajaj Finance and Bajaj Finserv climbed over 2% on Friday as excitement surrounding the upcoming initial public offering (IPO) of Bajaj Housing Finance fuelled investor interest.
Both stocks saw a surge, with Bajaj Finance rising 2.74% to Rs 7,628.40 on the Bombay Stock Exchange, while Bajaj Finserv, the parent company, gained 2.65% to Rs 1,902.60.
The buzz around the Bajaj Housing Finance IPO, which is set to make its stock market debut on September 16, has led traders on Dalal Street to snap up shares of other publicly traded Bajaj companies, hoping to capitalise on the momentum.
The IPO of Bajaj Housing Finance received an overwhelming response, with bids crossing Rs 3 lakh crore.
The IPO’s strong demand is also reflected in its grey market premium (GMP), which indicates a potential listing gain of 110%, with shares expected to debut at around Rs 146, compared to the issue price of Rs 70.
Analysts are optimistic about the long-term potential of Bajaj Housing Finance, highlighting the strength of the Bajaj brand and the growth prospects of India’s housing sector.
Shivani Nyati, Head of Wealth at Swastika Investmart Ltd, commented on the IPO’s appeal, saying, “Backed by the reputable Bajaj Group, Bajaj Housing Finance is set for a strong market debut. The IPO, with a subscription rate of 67.4 times and a grey market premium of Rs 75.5 (107.8%), showcases strong investor interest and anticipation.”
Nyati added, “Bajaj Housing Finance has demonstrated consistent growth in revenue and profit, supported by solid financial metrics. The company’s association with the Bajaj Group builds investor trust, and the IPO’s reasonable valuation has further bolstered optimism.”
As the listing date nears, the IPO buzz continues to propel Bajaj Finance and Bajaj Finserv higher, drawing more attention from investors.
(Disclaimer: The views, opinions, recommendations, and suggestions expressed by experts/brokerages in this article are their own and do not reflect the views of the India Today Group. It is advisable to consult a qualified broker or financial advisor before making any actual investment or trading choices.)