Trading
Bajaj Housing Finance crashes 9% overnight! Massive stake sale by Bajaj Finance shocks markets
Mumbai/IBNS: Shares of Bajaj Housing Finance tumbled over 9 percent to hit a 52-week low on Tuesday after promoter Bajaj Finance announced plans to divest a portion of its shareholding worth Rs. 1,740 crore, according to media reports.
The stock was trading at Rs. 94.90 per share, its lowest level since the company’s strong market debut in September 2024.
Bajaj Finance is set to sell 2 percent of its stake, valued at more than Rs. 1,740 crore, as part of an exercise to meet minimum public shareholding norms. The company plans to offload 16.66 crore shares in one or more tranches.
As of the July–September quarter of FY25, Bajaj Finance held 88.70% stake in Bajaj Housing Finance, with the remaining owned by public shareholders.
The divestment process will be carried out between December 2024 and February 2026, Bajaj Housing Finance confirmed.
Meanwhile, about 21.77 crore shares were traded on Tuesday at an average price of Rs. 95.39 per share, Moneycontrol reported.
Bajaj Housing Finance made a stellar listing in September 2024, debuting at Rs. 150 per share — a 114% premium over its issue price of Rs. 70.
Despite the recent decline, the stock remains roughly 36% above its IPO price, although it has fallen 36% from its listing value.
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