The shares of Bajaj Housing Finance dipped over 3% today as the three-month shareholder lock-in period for anchor investors ended. Around 12.6 crore shares, representing approximately 2% of the company’s equity, are now free to trade. While this does not imply that investors will immediately offload their holdings, it increases the stock’s available float in the market.
Stock Performance:
- Current Price: ₹136.87 (down 3.2%)
- Listing Price: ₹150
- Issue Price: ₹70
- Post-Listing High: ₹188
The stock, despite being over 100% higher than its IPO price, is trading nearly 25% below its post-listing high.
IPO Recap:
The ₹6,560-crore IPO received an overwhelming response, with total subscriptions reaching ₹3.23 lakh crore. It comprised a fresh issue of ₹3,560 crore and an offer-for-sale (OFS) of ₹3,000 crore by its parent company, Bajaj Finance.
Business Overview:
Registered with the National Housing Bank, Bajaj Housing Finance is a non-deposit-taking housing finance company established in 2015. Its offerings include:
- Home loans
- Loans against property
- Lease rental discounting
- Developer financing
As an “upper layer” NBFC categorized by the RBI, it plays a critical role in the housing finance ecosystem. This development has sparked investor interest in evaluating the future trajectory of Bajaj Housing Finance’s stock.
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