Bajaj Housing becomes the fourth firm to hit Rs.1 lakh crore valuation

In addition to more than doubling in value during the company’s first trading day, Bajaj Housing Finance’s market worth surged above Rs.1 lakh crore. In the process, Bajaj Finance’s home loan division became the fourth Indian company to reach the milestone on day one!

Paytm, Nykaa, and Zomato had already reached the milestone since their launches in 2021. With a valuation of Rs.1.4 lakh crore, Bajaj Housing Finance is the most valuable of the four.

On the other hand, on the day of their listing, Paytm and Nykaa each had a market worth of Rs.1 lakh crore. However, Zomato gave up part of its gains as intraday trading reached Rs.1 lakh crore.

Despite this, Zomato’s stock has increased by more than 100% since January of this year, and the company turned a profit in FY24. Around present, the company is valued around Rs.2.5 lakh crore. It Is interesting to note that One 97 Communications, the parent company of the fintech platform Paytm, had a market capitalization of Rs.1 lakh crore on a closing basis, despite a 27% decline on listing day.

Against the offer price of Rs.70, Bajaj Housing Finance shares closed the day at Rs.165 on the NSE. With a Rs.1.4 lakh crore market capitalization, the firm is ranked 68th. The most recent entry also increased the Bajaj Group's overall market valuation. As of Monday’s close, the country’s fifth-largest company has a market valuation of Rs.13.4 lakh crore.

Recently, IPO was launched by Bajaj Housing Finance with an aim to raise Rs.6,560 crore. However, the bids received from investors totalled a staggering amount of Rs.3.24 lakh crore. Two other IPOs - Kross and Tollins Tyres- also attracted healthy subscriptions resulting in approximately Rs.4 lakh crore investor wealth being locked-in across all three offerings.