NEW DELHI: Bajaj Housing Finance Ltd’s shares more than doubled in their trading debut yesterday, reflecting strong investor demand for new listings in India as they seek to capitalise on the country’s flourishing businesses.
Shares of the home-loan unit of India’s largest shadow lender climbed as much as 130% to 161 rupees versus an offer price of 70 rupees. The company’s 65.6-billion rupee (US$781mil) initial public offering (IPO), the nation’s biggest deal so far this year, drew bids exceeding US$39bil last week.
