look news india
The recent IPO of Bajaj Housing Finance is one of the most talked about IPOs in history. After Reliance Power, Bajaj Housing Finance has come second in terms of creating IPO history. According to the data, in 2008, Reliance Power's IPO had a record jump of Rs 7.12 lakh crore. Which is still at the first place in this list. Of course, this figure is of national level. Because, at that time qualified institutional buyers (QIBs) were allowed to bid with only ten percent margin amount. The regulator later abolished this practice to provide equal opportunity and fair bids.
Bajaj Housing Finance's IPO is the highest leaked IPO after April 2022. This achievement becomes significant because the Reserve Bank of India (RBI) has set a limit of Rs 1 crore for IPO finance. Currently, most IPO applicants have to keep the required amount of money in the bank to support their bid. Which ensures that these applications are backed by adequate capital.
In addition, Bajaj Housing Finance's IPO received a record 89 lakh applications (before technical rejections), surpassing Tata Technology's 68 lakh applications. RBI's ban on leveraged bids has led investors to turn to alternative strategies. For example, applying through multiple accounts of relatives, so that they increase their chances of getting shares in the IPO.