Bajaj Housing Finance has made a stellar debut on the Indian stock exchange. Within minutes of listing, it had doubled the investors' money. The shares debuted at Rs 150 per share on the NSE, representing a 114.29 per cent premium over the IPO price of Rs 70. This stellar listing of Bajaj Housing Finance shares came on the back of strong demand for the IPO, which received a record amount of over Rs 3 lakh crore as against the IPO size of Rs 6,560 crore. The price band of the IPO is Rs 66 to Rs 70 per share. It was the biggest IPO of the year so far.

After listing, the company's stock continued to rise

According to a report by Live Mint, after listing, the company's stock continued to rise and rose 10 percent from the initial listing price to Rs 165. Due to the strong performance of Bajaj Housing Finance, stocks like LIC Housing Finance, PNB Housing Finance and Can Fin Homes have declined and have registered a loss of up to 6.3 percent.

What are stock market experts saying

Stock market experts say that the fundamentals of peer companies are weaker than Bajaj Housing Finance. Before the listing of Bajaj Housing shares, analysts expressed optimism about the company despite the company's higher valuation compared to competitors. According to SBI Securities, Bajaj Housing Finance Limited is India's second largest housing finance company. It has assets under management (AUM) of Rs 97,071 crore. It has the lowest gross and net GNPA and NNPA ratio among major housing finance companies at 0.28 percent and 0.11 percent respectively.

SBI Securities also highlighted BHFL's impressive AUM growth of 30.9 per cent and profit growth of 56.2 per cent from FY22 to FY24. The company's strong association with the Bajaj brand is cited as a key factor, and projected industry growth rates of 13 per cent to 15 per cent over the next three years position BHFL to benefit from the expansion of the housing finance sector.

Bajaj Housing Finance is part of the esteemed Bajaj Group, a leading Indian conglomerate with a diversified portfolio. The group includes major listed entities such as Bajaj Finance, a top non-banking financial company, and Bajaj Auto, a major player in the automotive sector.