Shares of recently listed Bajaj Housing Finance fell as high as 5.27% to ₹142.85 apiece on the BSE during morning trade on Monday, October 14. This is because the company’s initial public offering (IPO) lock-in period is ending today.
A specified amount of shareholders, promoters, and insiders are prohibited from selling their shares for a predetermined amount of time following a company’s initial public offering (IPO). This period is known as the “IPO lock-in period.” Following the end of the lock-in period, these stockholders are free to sell their company shares.
The lock-in period’s goals are to stabilize stock prices and lower the likelihood of significant sell-offs. According to sources, the lock-in phase usually lasts six months, but it can last up to a year.
Bajaj Housing Finance IPO
On September 16, shares of Bajaj Housing Finance made an explosive launch on the stock exchange. When the stock went public on the BSE, it doubled investors’ money because it was trading at ₹150 per share, which was 114.29% more than the share’s issue price of ₹70. On September 18, Bajaj Housing Finance stock reached a high of ₹188.45, continuing its listing day rise. On October 8, nevertheless, it finally fell from the high levels to ₹129.85 apiece.
September 9–September 11 was when the ₹6,560 crore Bajaj Housing Finance initial public offering (IPO) took place. An offer to sell 42.86 crore shares valued at ₹3,000 crore and a fresh issuance of 50.86 crore equity shares totaling ₹3,560 crore comprised the IPO. A price range of ₹66 to ₹70 per share was established for the Bajaj Housing Finance IPO.
About Bajaj Housing Finance Limited
Bajaj Housing Finance was established in 2008 and is a non-deposit-taking Housing Finance Company (HFC). It has been registered with the National Housing Bank (NHB) since 2015. Since the 2018 fiscal year, the company has been providing mortgage loans. The business is a member of the Bajaj Group, a broad conglomerate of businesses with holdings across multiple industries.
For the purpose of buying and renovating residential and commercial properties, Bajaj Housing Finance offers both people and corporations tailored finance solutions. The organization offers a wide range of mortgage products, such as home loans, rent reductions, loan against property (LAP), and developer financing.
