BAJAJ HOUSING FINANCE SHARE PRICE HITS LOWER CIRCUIT AFTER MULTIBAGGER LISTING; KEY DETAILS

Bajaj Housing Finance Share Price Today: Shares of Bajaj Housing Finance are trading under pressure for the last two days. During Thursday's session, the housing finance company's shares opened in the red at Rs 172.98 against the previous close of Rs 173.66.

The shares of newly-listed company went on to hit the day's lower price band at Rs 156.29 on NSE, down 10 per cent. As many as 12.25 crore shares changed hands before trading was halted.

In the last two days, the Bajaj Group stock has cracked nearly 14 per cent.

Shares of newly-listed Bajaj Housing Finance Ltd on Tuesday surged 10 per cent to hit the upper circuit limit, extending the listing day gains. The stock jumped 10 per cent to hit the upper circuit limit of Rs 181.48 on the BSE.

At the NSE, shares of the firm surged 10 per cent to Rs 181.50, the highest trading permissible limit for the day. The company's market valuation climbed Rs 12,417.27 crore to Rs 1,49,823.36 crore.

Shares of Bajaj Housing Finance Ltd made a solid market debut on Monday and ended with a huge premium of nearly 136 per cent against the issue price of Rs 70. The stock was listed at Rs 150 on the BSE and NSE, reflecting a jump of 114.28 per cent from the issue price.

The Rs 6,560-crore initial public offer of Bajaj Housing Finance Ltd received 63.60 times subscription on September 11, the last day of bidding, amid overwhelming participation from institutional buyers.

The initial share sale had a price band for the offer at Rs 66-70 per share. The IPO had a fresh issue of equity shares of up to Rs 3,560 crore and an offer-for-sale (OFS) of equity shares worth Rs 3,000 crore by parent Bajaj Finance. It is a non-deposit-taking housing finance company registered with the National Housing Bank in September 2015.

The firm offers financial solutions for purchasing and renovating residential and commercial properties. It has been identified and categorised as an "upper layer" NBFC by the RBI, and its comprehensive mortgage products include home loans, loans against property, lease rental discounting and developer financing.

(Disclaimer: The above article is meant for informational purposes only, and should not be considered as any investment advice. ET NOW DIGITAL suggests its readers/audience to consult their financial advisors before making any money related decisions.)

2024-09-19T07:06:36Z dg43tfdfdgfd