&w=696&resize=696,0&ssl=1 "Liquidity galore in markets: Highlight on IPOs in trillion-bid membership | Current IPOS Listing")
Bajaj Housing Finance’s latest IPO has drawn consideration to the highest-bid IPOs in historical past. In response to Prime Database, Reliance Energy’s 2008 IPO nonetheless holds the document for highest cumulative bids at Rs 7.12 trillion. Nevertheless, it is important to notice that this determine was notional, as QIBs have been allowed to bid with only a 10 per cent margin quantity on the time. Later, the regulator abolished this apply to stage the enjoying discipline and guarantee honest bidding.
Bajaj Housing Finance’s IPO has acquired the best precise bids for any IPO since April 2022, when the Reserve Financial institution of India (RBI) launched a Rs 1 crore cap on IPO financing, making this achievement much more vital. At present, nearly all of IPO purposes require traders to have the mandatory funds of their financial institution accounts to assist their bids, guaranteeing that purposes are backed by precise capital.
Moreover, Bajaj Housing Finance’s IPO acquired a document 8.9 million purposes (earlier than technical rejections), surpassing Tata Know-how’s 6.8 million purposes. The RBI’s ban on leveraged bids has led traders to discover different methods, resembling making use of by way of a number of accounts belonging to members of the family and kinfolk, to extend their probabilities of getting an allotment.
First Printed: Sep 12 2024 | 10:45 PM IST
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