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  1. Bajaj Housing Finance shares down 4.4% after two consecutive upper circuits; still most valuable housing finance firm

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Bajaj Housing Finance shares down 4.4% after two consecutive upper circuits; still most valuable housing finance firm

Kamal Joshi

2 min read | Updated on September 18, 2024, 12:00 IST

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SUMMARY

Despite falling 2.2% to ₹177.3 apiece on the National Stock Exchange (NSE) on Wednesday, Bajaj Housing Finance has gained 153.2% from its issue price of ₹70.

Stock list

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With a market valuation of ₹1,47,716.34 crore, Bajaj Housing Finance is the country's most valued housing finance company.

Shares of newly-listed Bajaj Housing Finance Ltd declined over 4% on Wednesday after hitting upper circuits for two consecutive days.

The stock dropped 4.4% to ₹173.4 on the National Stock Exchange (NSE). It dropped 4.6% to ₹173.1 apiece.

On Tuesday, the scrip surged 10% to ₹181.50 apiece-- the highest trading permissible limit for the day.

The stock has surged 147.7% from its issue price of ₹70.

Bajaj Housing Finance: India's most valuable housing finance company

With a market valuation of ₹1,44,426.72 crore, Bajaj Housing Finance is the country's most valued housing finance company.

Housing & Urban Development Corporation stood at the second position with a market valuation of ₹49,196.69 crore, followed by LIC Housing Finance at ₹37,074.25 crore, PNB Housing Finance (₹28,267.18 crore), Aadhar Housing Finance (₹19,849.63 crore), Aptus Value Housing Finance India Ltd (₹16,877.81 crore), AAVAS Financiers (₹14,415.64 crore), Can Fin Homes (₹11,929.28), Sammaan Capital (₹11,700.57 crore) and Home First Finance Company India (₹10,375.88 crore).

Shares of Bajaj Housing Finance Ltd made a stellar market debut on Monday and ended with a huge premium of nearly 136% against the issue price of ₹70.

The scrip was listed at ₹150 on the BSE and NSE, reflecting a jump of 114.2% from the issue price.

The IPO was a fresh issue of shares worth ₹3,560 crore and an offer-for-sale (OFS) of equity shares worth ₹3,000 crore by the parent company Bajaj Finance.

Bajaj Housing Finance is a non-deposit-taking housing finance company (HFC) registered with the National Housing Bank in September 2015.

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About The Author

Kamal Joshi
Kamal Joshi is a business journalist who covers industries, markets, and IPOs. He is passionate about breaking news and enjoys playing tennis, especially flexing his backhand. He was previously associated with Republic TV and LatestLY.