Bajaj Housing Finance’s IPO gets record 3.2 lakh crore demand – Times of India
MUMBAI: The current frenzy in the IPO market in India, Bajaj Group reputation and the strong fundamentals of Bajaj Housing Finance combined to set a few new records for the primary market on Wednesday.As the Rs 6,560-crore IPO for Bajaj Housing Finance closed in the evening, there were about 89 lakh investors who had shown interest in buying the company's shares on offer.As a result, the IPO generated a demand for about Rs 3.2 lakh crore - an oversubscription figure of more than 67 times (excluding the anchor investor part). The number of applications and the demand book value, both were new records for the primary market in India. Data from Axis Capital, one of the lead managers to the IPO, showed that the institutional portion of the offer was subscribed 222 times and the part reserved f...