The non-institutional investors category has received 2.53 times subscriptions, while the portion for retail investors has subscribed 1.03 times. The category for qualified institutional buyers got bids for 6.41 crore shares against 17.75 crore shares on offer, according to NSE data.
Proceeds from the fresh issue will be used to strengthen the capital base to meet future capital needs.
The Bajaj group, founded in 1926 has four publicly traded companies–Bajaj Fiserv which went public in May 2008 and is the parent of the issuer and also the group’s holding company of its financial services vertical; and Bajaj Finance, another promoter of the firm hit the market in 1994, and flagship Bajaj Auto which public much earlier and is the world’s most profitable two-wheeler maker.
Bajaj Housing Finance is a non-deposit-taking housing finance company, registered with the National Housing Bank since September 2015. Aadhar Housing Finance and India Shelter Finance are two housing finance companies that went public in recent months.
The issuer has reserved Rs 200 crore worth of shares for Bajaj Finance employees and up to Rs 500 crore worth for the employees of Bajaj Finserv.
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