Financial Insights That Matter
Shares of Bajaj Housing Finance fell nearly 5% in early trade on Thursday. The share price of Bajaj Housing Finance has tanked close to 8% in the last five days.
The decline in share prices comes as the three-month shareholder lock-in period for anchor investors came to an end on December 12.
Around 12.6 crore shares, representing about 2% of the company’s total equity, have become available for trading. However, this does not imply that investors will necessarily sell their shares; it only means that these shares are now tradeable.
The shares of Bajaj Housing Finance are currently trading at Rs 141, which is over 100% above their issue price of Rs 70. However, the stock has declined by more than 25% from its post-listing peak of Rs 188. Additionally, the current share price is below the listing price of Rs 150.
The one-month lock-in period for anchor investors of the Bajaj group’s housing finance arm ended on October 6, making 2% of the equity available for trade.
The Rs 6,560 crore IPO of Bajaj Housing Finance saw an overwhelming response earlier this year, garnering subscriptions worth Rs 3.23 lakh crore.
The IPO included a fresh issue of equity shares worth Rs 3,560 crore and an offer-for-sale (OFS) of shares amounting to Rs 3,000 crore by its parent company, Bajaj Finance.
Established in September 2015 and registered with the National Housing Bank, Bajaj Housing Finance operates as a non-deposit-taking housing finance company. It provides financial solutions for purchasing and renovating residential and commercial properties.
Classified as an “upper layer” non-banking financial company (NBFC) by the Reserve Bank of India (RBI), its product portfolio includes home loans, loans against property, lease rental discounting, and financing for developers.
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