“The ₹6,560-crore IPO of the Bajaj Group company generated an overwhelming response, with bids amounting to ₹3.24 lakh crore. This resulted in an overall subscription rate nearly 64 times the available shares. The retail individual investors (RIIs) segment saw a subscription of over seven times, while the demand from qualified institutional buyers (QIBs) surged to 209.36 times. Meanwhile, the non-institutional investors (NII) category witnessed a subscription of 41.51 times the shares offered.”
Source:
Retail oversubscription is just 7 times. It’s the others who generally is not in for listing gains did a lot of over subscription. I guess bajaj housing finance could hold the price due to scarcity premium.
Or it could go the Tata technologies way, issue price 500, listed at 1400 but within days it went to 1000 and now consolidating in the range of 950 to 1100. Anything we discuss about price sustenance will be nothing more than speculation.
Disc: Got one lot in IPO. Opinion is biased. I can be wrong as well.
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