Bajaj Housing Finance debut boosts Bajaj Group’s market capitalisation | News on Markets
A stellar market debut of Bajaj Housing Finance Ltd (BHFL) on Monday helped the Bajaj Group reduce its market capitalisation (mcap) gap with the Adani group. BHFL’s mcap stood at Rs 1.37 trillion on Monday, more than double its initial public offering price-based valuation of around Rs 58,300 crore. This added more than 10 per cent to Bajaj Group’s mcap, pushing it from Rs 12.1 trillion on Friday to Rs 13.6 trillion on Monday, a 9.3 per cent increase.
In comparison, the third-ranked Adani Group’s mcap rose by 2.1 per cent on Monday to Rs 16.7 trillion. The Tata Group remains the country’s largest business group with a mcap of Rs 34.7 trillion on Monday, marginally down from Rs 34.8 trillion on Friday. It is followed by the Mukesh Ambani group with a mcap of Rs 22.68 trillion, slightly down from Rs 22.71 trillion on Friday.
Sunil Mittal family-led Bharti group holds fifth place in the mcap rankings, with its valuation at Rs 12.1 trillion on Monday, unchanged from Friday. The AV Birla group ranks next, with a mcap of Rs 7.95 trillion on Monday, down slightly from Rs 7.96 trillion on Friday.
The group’s listed holding company Bajaj Holdings is the main promoter of Bajaj Finserv with a 39 per cent stake at the end of June.
First Published: Sep 16 2024 | 11:34 PM IST
