Bajaj Housing Finance share price falls over 4% as one-month IPO lock-in period ends today

Bajaj Housing Finance share price fell over 4% in early trade on Monday, October 14 as the one-month lock-in period for shareholders ends today. Bajaj Housing Finance shares dropped as much as 4.50% to ₹144 apiece on the BSE.

Approximately 12.6 crore equity shares, or 1.5% stake, of Bajaj Housing Finance will be eligible for trading in the stock market today as the one-month lock-in period ends, according to IIFL Securities.

Bajaj Housing Finance shares' three-month lock-in period will end on December 12, 2024, and another 12.6 crore shares will become eligible for trading.

It is to be noted that the end of the lock-in period does not mean that all of the shares will be sold in the open market. It only means that the shares will be eligible for trading.

Bajaj Housing Finance IPO

Bajaj Housing Finance shares made a blockbuster stock market debut on September 16. The stock doubled investors’ money upon listing as it was listed at ₹150 apiece on BSE, a premium of 114.29% to the issue price of ₹70 per share.

Extending its listing day rally, Bajaj Housing Finance stock hit a high of ₹188.45 on September 18. However, it eventually dropped from the high levels to ₹129.85 apiece on October 8.

The ₹6,560 crore Bajaj Housing Finance IPO was open from September 9 to September 11. The IPO was a combination of fresh issue of 50.86 crore equity shares aggregating to ₹3,560 crore and an offer for sale of 42.86 crore shares worth ₹3,000 crore. Bajaj Housing Finance IPO's price band was set at ₹66 to ₹70 per share.

Bajaj Housing Finance is a non-deposit-taking housing finance company, with home loans contributing 57.8% to its AUM of ₹91,370 crore as of March 31, 2024. The company has delivered a robust AUM CAGR of 31% over FY22-24. It holds the largest share in the prime housing segment, accounting for over 20%.

Most brokerages had recommended subscribing to the Bajaj Housing Finance IPO given its strong fundamentals.

At 10:03 am, Bajaj Housing Finance shares were trading 4.01% lower at ₹144.75 apiece on the BSE, commanding a market capitalisation of over ₹1.20 lakh crore. 

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