Business: In the first trading session of the month of September in the Indian stock market, the stock of Bajaj Finance and Bajaj Finserv, popularly known as Bajaj Twins, is witnessing a strong rally. The reason for this is the Rs 6560 crore IPO of Bajaj Housing Finance which is going to open next week on Monday, September 9, 2024 and investors will be able to apply in this IPO on September 11.  

The stock of Bajaj Finance is trading at Rs 7445 with a jump of 3.36 percent from its previous closing price of Rs 7200. In today's session, the stock is seeing a rise of Rs 244. Brokerage house Incred has advised investors to buy Bajaj Finance stock for a target of Rs 9000. That is, the stock can give a return of 25 percent from the previous closing price level of Rs 7200. Bajaj Finance is one of the largest multibagger stocks in the Indian stock market. Exactly 10 years ago, on September 2, 2014, the stock closed at Rs 243. That is, from that level, the stock has given a return of 3000 percent i.e. about 30 times. Bajaj Finserv shares are also seeing a strong rally in today's session. The stock is trading at Rs 1842 with a jump of 3.35 percent. 

Bajaj Housing Finance is going to raise Rs 6560 crore through IPO, in which Rs 3560 crore will be raised by issuing new shares and Rs 3000 crore will be raised through offer for sale. The price band of Bajaj Housing Finance's IPO will be announced on Tuesday, September 3, 2024. 50 percent quota in the IPO has been reserved for institutional investors, 15 percent for non-institutional investors and 35 percent for retail investors.  

Bajaj Housing Finance focuses on retail home loans. The company's net profit in the financial year 2023-24 was Rs 1731 crore, which is 38 percent more than Rs 1258 crore in the financial year 2022-23.