Bajaj Finance saw its shares jump more than 6% this week. The upward trend in Bajaj Finance’s stock comes after reports that Bajaj Housing Finance may launch its initial public offering (IPO) in the first half of September 2024.
The IPO would include a special quota for shareholders of Bajaj Finserv and Bajaj Finance, both of which are classified as ‘promoters.’
Bajaj Finance holds a 100% stake in Bajaj Housing, whereas Bajaj Finserv owns 51.34% in Bajaj Finance. The public issue would include a fresh issue of Rs 4,000 crore and an offer for sale of Rs 3,000 crore. Following that, the IPO will be listed on the BSE and NSE.
Stock Performance on Friday
– Open: ₹7,071.05
– High: ₹7,215.05
– Low: ₹7,071.05