Bajaj Housing’s Rs.6,560-Cr IPO sees record-breaking 9 mn bids at Rs.3,20,000-Cr

Bajaj Housing Finance ’s maiden share sale witnessed record-breaking investor demand, with cumulative bids for the INR 6,560-crore offering exceeding INR 3,20,000 crore, with overall demand exceeding 67 times the shares on offer. The initial public offering (IPO) also attracted almost 9 million applications, surpassing the previous record held by Tata Technologies of 7.35 million.The institutional investor portion of the issue was subscribed 222 times, while high net worth individual portions of INR 10 lakh and more than INR 10 lakh saw subscription of 51 times and 31 times, respectively. Bids from individual investors exceeded INR 60,000 crore. At the upper end of the price band of INR 66-70, Bajaj Housing - currently fully owned by Bajaj Finance - is valued at INR 58,000 crore.