Why Bajaj Housing Finance shares fell 6% on October 14; Check reasons here
Source: Business Standard
Bajaj Housing Finance share price: Recently-listing Bajaj Housing Finance shares dropped as much as 6.06 per cent to hit an intraday low of Rs 141.65 per share on Monday, October 14, 2024.
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Another lock-in period will conclude on December 12, 2024, affecting an additional 126 million shares.
The IPO lock-in period prevents shareholders from selling their shares for a set duration, helping to stabilise the stock price post-IPO. However, once lock-in ends, increased selling activity may lead to price fluctuations in the share price.
Bajaj Housing Finance IPO
Bajaj Housing Finance made a remarkable entry on the stock exchanges on September 16, debuting at Rs 150 on both the BSE and NSE, representing a 114.28 per cent increase over its IPO issue price of Rs 70.
Bajaj Housing Finance’s Rs 6,560-crore IPO generated a substantial interest from investors, with bids totaling 46,28,35,82,522 shares against the 72,75,75,756 shares available, achieving an impressive subscription rate of 63.61 times by the closing day.
As a subsidiary of Bajaj Finance, one of India’s most diversified non-banking financial companies (NBFCs), Bajaj Housing Finance is based out of Pune. The company provides financing options for individuals and businesses seeking to purchase or renovate homes and commercial properties.
Additionally, it offers loans against property for personal or business needs and working capital for business expansion. Bajaj Housing Finance also supports developers with financing for residential and commercial construction projects and provides lease rental discounting services to developers and high-net-worth individuals.
The market capitalisation of Bajaj Housing Finance is Rs 1,18,634.45 crore, according to BSE.
The 52-week high of Bajaj Housing Finance share is Rs 151 per share while its 52-week low is Rs 141.65 apiece.
At 12:28 PM, Bajaj Housing Finance share was trading 5.54 per cent lower at Rs 142.45 per share. In comparison, BSE Sensex was trading 0.72 per cent higher at 81,964.47 levels.
First Published: Oct 14 2024 | 12:41 PM IST
