Bajaj Corp Limited which had tapped the capital markets with its IPO for 45 lakh shares was subscribed, The issue price band was Rs 630-660 and the issue was open between the 2nd and 4th of August for QIB’s and between the 2nd and 5th for HNI’s and retail investors. Bajaj Corp is in the business of FMCG products and its flagship product is Bajaj Almond Hair Oil. This company sells the products under license from the erstwhile Bajaj Sevashram Limited.
Details of the subscription are as follows: –
| Category | Shares Offered | Shares Subscribed | Times |
| QIB | 1890000 | 38157810 | 20.19 |
| NII | 450000 | 24069410 | 53.49 |
| Retail | 1350000 | 8935820 | 6.62 |
| Overall | 3690000 | 71163040 | 19.29 |
The oversubscription and response from QIB’s has been very impressive and considering the figure of 53.49 times it appears that returns to retail investors will certainly improve. Readers would recall that this website had recommended its readers to subscribe to the issue. Retail investors who have applied for 150 shares are likely to be allotted between 22 and 23 shares. A premium of between Rs 75-80 per share seems likely.
