Bajaj Housing Finance's shares experience a more than doubling increase in value following a successful initial public offering (IPO) in India.

• On their market debut, the shares of Bajaj Housing Finance in India more than doubled, experiencing a 130% increase from their initial public offering pricing.
• Last week, Bajaj Housing Finance's IPO attracted bids worth $39 billion, with shares being oversubscribed nearly 64 times. As a result, the company raised $781 million and is now valued at $7 billion.
• Exchange data indicated that the company's total market cap was approximately $15.6 billion following its debut on Monday.

On their market debut, India's Bajaj Housing Finance experienced a more than doubling of shares, indicating high demand from investors seeking to invest in the country's expanding real estate market.

The company's shares, which were listed on the National Stock Exchange, experienced a significant increase in price, reaching a high of 161 rupees per share, an increase of approximately 130% from their initial public offering (IPO) price of 70 rupees.

Last week, Bajaj Housing Finance's IPO attracted bids worth $39 billion, with shares being oversubscribed nearly 64 times. As a result, the company raised $781 million and is now valued at $7 billion.

Exchange data showed that the total market cap of the company was approximately $15.6 billion (1,331.59 billion rupees) following its debut on Monday.

More than 88.11 million customers are served by Bajaj Housing Finance, which is headquartered in Pune, as per the company's website.

Bajaj Finance's home loan financing company specializes in providing mortgage loans to high-end individual homebuyers and corporate entities for purchasing or renovating homes or commercial spaces.

In addition to providing loans against property for personal or business needs, it also offers working capital for business expansion.

Bajaj Group, an Indian conglomerate, owns not only the auto and consumer goods business but also the company.

The demand for IPO supplies has increased significantly in India, resulting in a significant increase in IPO supplies, according to Ashish Gupta, CIO at Axis Mutual Fund. He predicts that this trend will continue, with IPOs in this quarter expected to grow nearly three times from the previous quarter.

The world's fastest-growing major economy continues to attract sustained investor interest in Indian equity markets.

So far this year, the Nifty 50 and the Sensex have experienced a 17% and 15% increase, respectively, building on their 20% and 19% gains from the previous year.