India's mortgage IPO builds on many riches

Bajaj Housing Finance

16/09/2024 06:15

(The author is a Reuters Breakingviews columnist. The opinions
expressed are her own.)
    By Shritama Bose
       MUMBAI, Sept 16 (Reuters Breakingviews) - Shares of
Bajaj Housing surged 125% on their debut. That reflects faith in
its $56 bln investor darling parent and robust demand for
expensive homes. It also hints at deep scepticism among sellers
about the sustainability of rich valuations in the country's
equities market.
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    CONTEXT NEWS
      Shares of Indian mortgage lender Bajaj Housing Finance
jumped 125% on their first day of trading on Sept. 16. 
    The company’s $782 million initial public offer attracted
bids worth $39 billion between Sept. 9 and Sept. 11, data from
bourse operator BSE showed. The government of Singapore,
BlackRock Global Funds and Abu Dhabi Investment Authority were
among anchor investors in the deal.

 (Editing by Una Glani and Aditya Srivastav)
 ((For previous columns by the author, Reuters customers can
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shritama.bose@thomsonreuters.com))