Bajaj Housing Finance Ltd. experienced a decline in its share price on Monday as the one-month lock-in period for shareholders ended. This development allowed around 12.6 crore shares, accounting for approximately 1.51% of the company’s outstanding equity, to be traded. While the end of the lock-in period could lead to concerns about potential selling pressure, it does not necessarily imply that all investors will choose to sell their shares immediately.
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The company made its debut on the stock market on September 16, starting with an IPO price of Rs 70 per share. After a remarkable first trading day where the stock surged by 135%, it reached a peak of Rs 188. However, the stock has faced a decline since then, closing at Rs 150 per share on Friday, which is still the initial listing price. To date, the stock has risen 115% from its issue price.
Earlier this month, Bajaj Housing Finance reported robust growth in its Q2 business update. Its assets under management (AUM) rose by 26% year-on-year, exceeding the Rs 1 lakh crore mark for the first time, totaling Rs 1.02 lakh crore as of September 30, 2024. This performance indicates a positive growth trajectory, despite investor concerns regarding trading eligibility.
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Looking ahead, a three-month lock-in period will conclude on December 12, allowing an additional 12.6 crore shares to become available for trading.
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As of today, Bajaj Housing Finance’s share price fell by as much as 4.56% to Rs 144.0 per share, later adjusting to a 4.24% decrease at Rs 144.49 per share by 9:45 a.m., while the NSE Nifty 50 saw a 0.60% increase. The stock has decreased by 12.43% over the last month, with total traded volume at 0.4 times its 30-day average. The relative strength index was reported at 40.
