Listing ceremony of Bajaj Housing Finance Limited took place on National Stock Exchange.
Shares of Bajaj Housing Finance Limited, Cross Limited and Tolins Tyres Limited got listed on the stock exchange today. Shares of Bajaj Housing Finance got listed on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) at ₹ 150, up 114.29% from the issue price of ₹ 70.
At the same time, the share of Cross Limited was listed on BSE and NSE at the issue price of ₹ 240. Whereas, the share of Tolins Tyres was listed on BSE at ₹ 227, which is 0.45% higher than the issue price of ₹ 226. The share of Tolins Tyres was listed on NSE at ₹ 228, 0.9% higher than the issue price.
The IPOs of all three companies were open from 09 to 11 September
All three initial public offers i.e. IPOs were open from 09 to 11 September. In three days, Bajaj Housing Finance's IPO was subscribed a total of 67.43 times. The issue was subscribed 7.41 times in the retail category, 222.05 times in qualified institutional buyers (QIB) and 43.98 times in the non-institutional investors (NII) category.
At the same time, the IPO of Cross Limited was subscribed a total of 17.66 times in three days. This issue was subscribed 11.26 times in the retail category, 24.55 times in QIB and 23.40 times in the NII category. The IPO of Tolins Tyres was subscribed a total of 25.03 times in three days, this issue was subscribed 22.45 times in the retail category, 26.72 times in QIB and 28.80 times in the NII category.
1. Bajaj Housing Finance Limited: Issue was ₹6,560 crore
This issue of Bajaj Housing Finance was worth a total of ₹ 6,560 crores. For this, the company issued 508,571,429 fresh shares worth ₹ 3,560 crores. Whereas, the existing investors of the company sold 428,571,429 shares worth ₹ 3,000 crores through Offer for Sale i.e. OFS.
Retail investors could bid for a maximum of 2782 shares
Bajaj Housing Finance Limited had fixed the price band of the IPO at ₹66-₹70. Retail investors could bid for a minimum of one lot i.e. 214 shares. If you had applied for 1 lot as per the upper price band of the IPO of ₹70, you would have had to invest ₹14,980 for it.
At the same time, retail investors could apply for a maximum of 13 lots i.e. 2782 shares. For this, investors would have to invest ₹ 194,740 according to the upper price band.
Bajaj Housing Finance is a non-deposit taking housing finance company
Bajaj Housing Finance is a non-deposit taking housing finance company (HFC), established in 2008. The company is registered with National Housing Bank (NHB) since 2015 and offers mortgage loans since FY 2018.
The company is part of the Bajaj Group, which offers a range of mortgage products including home loans, loan against property, lease rental discounting and developer financing. As of March 31, 2024, the company had 308,693 active customers, of which 81.7% were home loan customers.
2. Cross Limited: Issue was ₹500 crore
This issue of Cross Limited was of total ₹500 crores. For this, the company issued 10,416,667 fresh shares worth ₹250 crores. Whereas, the existing investors of the company sold 10,416,667 shares worth ₹250 crores through Offer for Sale i.e. OFS.
Retail investors could bid for a maximum of 806 shares
Cross Limited had fixed the price band of the IPO at ₹228-₹240. Retail investors could bid for a minimum of one lot i.e. 62 shares. If you had applied for 1 lot as per the upper price band of the IPO of ₹240, you would have had to invest ₹14,880 for it.
At the same time, retail investors could apply for a maximum of 13 lots i.e. 806 shares. For this, investors would have to invest ₹ 193,440 according to the upper price band.
Cross Limited was established in 1991
Established in 1991, Cross Limited was formerly known as Cross Manufacturers (India) Private Limited. The company manufactures trailer axles, suspensions and mesh for heavy-duty commercial vehicles and agricultural equipment, among others.
3. Tollins Tyres: Issue was ₹230 crore
This issue of Cross Limited was worth a total of ₹230 crores. For this, the company issued 8,849,558 fresh shares worth ₹200 crores. Whereas, the existing investors of the company sold 1,327,434 shares worth ₹30 crores through Offer for Sale i.e. OFS.
Retail investors could bid for a maximum of 858 shares
Cross Limited had fixed the price band of the IPO at ₹215-₹226. Retail investors could bid for a minimum of one lot i.e. 66 shares. If you had applied for 1 lot as per the upper price band of the IPO of ₹226, you would have had to invest ₹14,916 for it.
At the same time, retail investors could apply for a maximum of 13 lots i.e. 858 shares. For this, investors would have to invest ₹ 193,908 according to the upper price band.
Tolins Tyres Limited was established in 2003
Tolins Tyres Limited is a tyre manufacturing company founded in 2003. The company sells tyres in India and exports them to 40 countries including East Africa, Jordan, Kenya and Egypt. The company operates 3 manufacturing facilities, two of which are located in Mattur, Kalady, Kerala and the third in Al Hamra Industrial Area, Ras Al Khaimah, UAE.
What is IPO?
When a company issues its shares to the general public for the first time, it is called Initial Public Offering or IPO. The company needs money to expand its business. In such a situation, instead of taking a loan from the market, the company raises money by selling some shares to the public or by issuing new shares. For this, the company brings IPO.
Graphics Source: VaskarAssets
