Bajaj Finserv Share Price: Shares of diversified NBFC Bajaj Housing Finance are going to be listed on BSE and NSE on 16 September. Before this listing, on 13 September, the shares of Bajaj Finserv and Bajaj Finance saw a 3 percent rise in intraday. Later the shares closed with a gain of 2 percent. Bajaj Housing Finance is a company owned by Bajaj Finance. Its IPO closed on 11 September.

Brokerage firm Macquarie has already expressed hope that Bajaj Housing Finance's strong listing in the stock market can lead to a 5% jump in Bajaj Finance's shares. Macquarie's analysts also believe that this can lead to rerating of other housing finance companies. The rise in Bajaj Finance's shares on Friday, the last trading day of the week, seems to indicate that Macquarie's forecast is going to prove correct.

It is expected that Bajaj Housing Finance can make a strong debut in the stock market on September 16 and can double the investors' money on the day of listing itself. According to investorgain.com, in the gray market, Bajaj Housing Finance shares are trading at a premium of Rs 80.50 or 115 percent over the IPO's upper price band of Rs 70. On this basis, the shares can be listed at a price of Rs 150.5.

Bajaj Finserv shares closed at Rs 1893.75 on BSE, up 2 per cent. During the day, it rose nearly 3 per cent from its previous close to a high of Rs 1906.90. This is a new 52-week high for the stock on BSE. The upper price band for the stock is Rs 2,038.85. The company's market cap is over Rs 3 lakh crore.

Similarly, Bajaj Finance's stock also rose by 2 percent and closed at Rs 7597. During the day, the stock rose more than 3 percent from its previous closing price to a high of Rs 7659.70 on the BSE. The company's market cap is more than Rs 4.70 lakh crore. 

How did Bajaj Housing Finance IPO get response?

Bajaj Housing Finance's IPO was subscribed overall 67.43 times. The portion reserved for qualified institutional buyers was subscribed 222 times, the portion reserved for non-institutional investors was subscribed 43.98 times and the portion reserved for retail investors was subscribed 7.41 times. The portion reserved for employees was subscribed 2.13 times. The IPO has received subscription of more than Rs 3 lakh crore. New shares worth Rs 3560 crore were issued in the IPO of Rs 6,560 crore. Also, there was an offer for sale of Rs 3,000 crore.

Bajaj Housing Finance offers finance to individuals as well as corporate entities for the purchase and renovation of homes or commercial spaces. The company will use the proceeds from the issuance of new shares in its IPO to increase its capital base.