MUMBAI: Bajaj Housing Finance has made history of sorts on its market debut Monday soaring 136 percent to Rs 164.99 over its issue price of Rs 70 on the BSE after hitting many a circuit breaker during a dull trading day. The stock was listed at Rs 150 on the BSE and the NSE, reflecting a jump of 114.28 percent from the issue price.
With a market capitalisation of Rs 1,37,406.09 crore (Rs 1.37 trillion), the Pune-based company has become the largest mortgage player in terms of market value.
The state-run Housing & Urban Development Corporation (Hudco) comes at the second position with a market valuation of Rs 49,476.96 crore, followed by LIC Housing at Rs 37,434.54 crore, PNB Housing Finance (Rs 27,581.41 crore), Aadhar Housing Finance (Rs 20,045.16 crore), Aptus Value Housing Finance (Rs 16,598.17 crore), Aavas Financiers (Rs 14,278.33 crore), Can Fin Homes (Rs 11,983.87 crore), Sammaan Capital (Rs 11,773.23 crore) and Home First Finance Company (Rs 10,602.99 crore).
Bajaj Housing's rivals LIC Housing and Hudco, however, tanked 5.92 percent and 2.10 percent respectively.
On the NSE, the shares surged 135.71 percent to settle at the upper circuit limit of Rs 165.
In volume terms, as many as 608.99 lakh shares were traded on the BSE while on the NSE, the volume was a humongous 6,367.27 lakh shares during the session.
The Rs 6,560-crore initial public offer of Bajaj Housing got 63.60 times subscription on September 11, worth more than Rs 3 trillion which is around 1 percent of the GDP, amid overwhelming participation from institutional buyers. The company had fixed the price band at Rs 66-70 per share.
The IPO had a fresh issue of equity shares of up to Rs 3,560 crore and an offer-for-sale of equity shares worth Rs 3,000 crore by parent Bajaj Finance.
Meanwhile, the benchmark Sensex climbed 97.84 points or 0.12 percent to settle at a new record peak of 82,988.78. During the day, it jumped 0.35 per cent to hit a fresh lifetime intra-day high of 83,184.34.
The Nifty gained 27.25 points or 0.11 percent to settle at a new high of 25,383.75. During the day, the benchmark gained 89.2 points or 0.35 per cent to hit a new intra-day record peak of 25,445.70.