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

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

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.

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 is a business journalist who covers industries, markets and IPOs. He is passionate about breaking news and enjoys playing tennis, where he loves flexing his backhand.

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