9% Drop for Bajaj Housing Finance Shares on Block Deal Buzz

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.