Shares of Bajaj Housing Finance fell over 6% on October 14 as the one-month lock-in period for anchor investors expired. The stock hit an intraday low of Rs 141.58 on the NSE, down 6.16%, with a market valuation of Rs 1,18,259.68 crore.
With the lock-in ending, around 12.6 crore shares, or 2% of the company’s outstanding equity, are now available for trading. Another 12.6 crore shares will be eligible for trading when the three-month lock-in period ends on December 12, according to Nuvama Alternative & Quantitative Research.
The stock listed at a premium of 114% at Rs 150 after the company’s Rs 6,560-crore IPO saw strong demand. Bajaj Housing Finance, a wholly owned subsidiary of Bajaj Finance, will declare first post-listing quarterly results on October 21.
Meanwhile, shares of Bajaj Finance traded flat at 7,230.60 apiece and those of Bajaj Finserv traded marginally lower at 1,876.05 per piece on the NSE. Bajaj Housing Finance offers financial solutions for residential and commercial properties and is registered with the National Housing Bank.
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Source: Moneycontrol
News Desk
