Is Bajaj Housing’s High Valuation Sustainable?
Bajaj Housing Finance just had a record 6,560 crore rupees IPO, setting records for both demand and applications in the Indian primary market. The issue was oversubscribed 64 times, attracting bids worth 3.23 trillion rupees—surpassing Coal India's 2010 record. Bajaj’s valuation is several multiples of its peers although its financials don’t beat theirs in every instance. Is the company overvalued? Is the valuation sustainable?What price will it settle at? How should investors take this frenzy?
In this episode of The Morning Brief, host Anirban Chowdhury explores all of this with ET’s Saloni…
The skinny
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