Bajaj Housing Finance shares plunge 9.4%, market capitalisation declines by over ₹20,000 crore in two days

2 min read | Updated on September 19, 2024, 11:44 IST

SUMMARY

Bajaj Housing Finance shares debuted at a premium of 114.2% on Monday and ended with gains of 136% against the issue price of ₹70. On Tuesday, the scrip again hit a 10% upper circuit. However, it fell 4.5% to ₹173.19 a unit on Wednesday.

Bajaj Housing Finance is a non-deposit-taking housing finance company.

Bajaj Housing Finance shares declined for the second straight day on Thursday, September 19.

The stock slumped 9.4% to ₹157.2 apiece on the National Stock Exchange (NSE). It dropped 9.2% to ₹157.5 on the BSE (formerly Bombay Stock Exchange).

Bajaj Housing Finance m-cap declines by over ₹20,000 crore in 2 days

The housing finance company's (HFC) market capitalisation has plunged by ₹20,237.39 crore to ₹1,30,918.47 crore in the last two trading session.

Bajaj Housing Finance shares debuted at a premium of 114.2% on Monday and ended with gains of 136% against the issue price of ₹70.

On Tuesday, the scrip again hit a 10% upper circuit. However, it fell 4.5% to ₹173.19 a unit on Wednesday.

Bajaj Housing Finance IPO received a total subscription of 63.61 times due to robust participation from institutional buyers. The initial public offer had a price range of ₹66-₹70 per equity share.

The company issued fresh shares worth ₹3,560 crore. Bajaj Finance, the parent firm, also offloaded shares worth ₹3,000 crore under the offer-for-sale component.

It is a non-deposit-taking HFC that provides financial solutions for buying and renovating residential and commercial properties.

The Reserve Bank of India (RBI) has categorised Bajaj Housing Finance as an "upper layer" NBFC. Its comprehensive mortgage products include home loans, lease rental discounting, loans against property, and developer financing.

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Bajaj Housing Finance shares plunge 9.4%, market capitalisation declines by over ₹20,000 crore in two days

Bajaj Housing Finance m-cap declines by over ₹20,000 crore in 2 days

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