Bajaj Housing Finance shares are likely to see increased attention on December 12, as the three-month lock-in period for anchor investors concludes. This unlocks 12.6 crore shares, approximately 2% of the company’s total equity, for trading. However, the end of the lock-in does not necessarily indicate that investors will sell their holdings; it merely allows them to trade these shares.
Currently, Bajaj Housing Finance shares quoted at Rs 141 apiece stood over 100% over issue price of Rs 70. Interestingly, the stock has corrected more than a quarter from its post-listing high of Rs 188 apiece. The current price is still below the listing price of Rs 150 per share.
The Rs 6,560-crore IPO of Bajaj Housing Finance saw record subscriptions of Rs 3.23 lakh crore earlier this year. Of the IPO, a fresh issue formed Rs 3,560 crores and an offer-for-sale in the value of Rs 3000 crore by its selling shareholder – Bajaj Finance.
Bajaj Housing Finance is a non-deposit-taking housing finance company registered with the National Housing Bank in 2015 and offers financial services related to the purchase or renovation of residential and commercial property. It offers mortgage solutions comprising home loans, loans against property, lease rental discounting, and developer financing. The company comes under the “upper layer” NBFC category of the Reserve Bank of India.
Do you have a news tip for Lakshmishree reporters? Please email us at media@lakshmishree.com
Source: Moneycontrol
News Desk
