Investors bid for 64 times the shares on offer
Institutional investors bid for 209x the shares
Lender expected to benefit from luxury homes demand
Analysts expect sharp gains in Sept. 16 listing
Indian IPOs fetch 7 bln YTD, twice vs same period last yr

BENGALURU, Sept 11 Reuters India39;s Bajaj Housing Finance BAJO.NS attracted bids worth about 38.60 billion, or nearly 64 times the shares on offer, making it the most soughtafter major public listing this year in a redhot IPO market.

The interest in the company39;s public offer the most this year among mainboard IPOs worth more than 500 million was due to the lender39;s prospects in a booming home loan market and came during the busiest week for Indian IPOs in 2024.

Bajaj Housing Finance, a unit of nonbank lender Bajaj Finance, will become India39;s largest listed home loan financier, with its 782 million IPO valuing the company at 7 billion.

Analysts attribute the rush for the lender39;s offering to strong demand for loans for luxury homes, attractive IPO pricing and confidence in the pedigree of the nearly 100yearold Bajaj group, which also has auto and consumer goods businesses.

Bajaj Housing Finance is raising 424 million in the float by issuing new shares, while Bajaj Finance is selling shares worth 357 million. It set a price band of 6670 rupees a share.

Analysts expect the interest to sustain after the company lists on the exchange on Monday, Sept. 16.

Given the demand of the IPO and the…