Why Bajaj Housing Finance Shares Tumbled Over 3%?

On Monday, October 14, 2024, Bajaj Housing Finance shares will be on investors’ radar as the one-month lock-in period for shareholders ends. This release will make approximately 12.6 crore shares, or 2% of the company’s outstanding equity, eligible for trading. It is important to note that the end of the lock-in period does not guarantee that all eligible shares will be sold in the open market; it simply allows for trading.  

At 09:30 AM, Bajaj Housing Finance shares touched the day low of ₹145.60, which opened at ₹150.80, reflecting a fall of 3.15% from the previous close. 

Bajaj Housing Finance debuted on the stock market on September 16 at an IPO price of ₹70 per share. Following a remarkable 135% surge on its listing day, the stock reached a post-listing high of ₹188 but has since experienced a decline.

Another lock-in period for Bajaj Housing Finance will end on December 12, when an additional 12.6 crore shares, or another 2% of outstanding equity, will become tradable.

About Bajaj Housing Finance Ltd

Bajaj Housing Finance is a non-deposit-taking Housing Finance Company (HFC) registered with the National Housing Bank (NHB) since 2015. The company provide mortgage loans. It is the 2nd largest Housing Finance Company (HFC) within just 7 years of starting its mortgage operations. In FY2024 and Q1 FY25, the company recorded the 2nd highest loan disbursement among HFCs, with the 2nd highest AUM per branch and employee among large HFCs.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.