The market saw a significant event involving Bajaj Housing Finance shares on Tuesday, December 2, when they tumbled by up to 9% to ₹95.00 apiece, driven by a large block deal involving the exchange of 19.5 crore shares (2.35% equity) worth ₹1,890 crore at ₹97 per share. This major share sale is part of a plan by the promoter, Bajaj Finance, to divest up to 2% of its stake to comply with the mandatory Minimum Public Shareholding (MPS) rule, which caps promoter holding at 75%, and to meet the RBI’s mandate for upper-layer NBFCs like Bajaj Housing Finance to list by September 2025. The company, a non-deposit-taking housing finance company established in 2015, had a highly successful market debut on September 16, 2024, listing at ₹150—a 114.28% premium over the ₹70 issue price—following a ₹6,560 crore IPO that was oversubscribed 63.60 times.
More Stories
U.S. Healthcare Cost Crisis and Regulatory Pressures Squeeze Revenue for Indian IT Giants
Finance Minister Nirmala Sitharaman inaugurates Northeast’s largest organic spice processing centre in Meghalaya
Cooking Gas Crunch: Govt Reduces PM Ujjwala Cylinders to 4/Year from 9 Amid West Asia Conflict