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Bajaj Housing Finance shares slipped 6.2 per cent on Thursday and logged an intraday low of Rs 132.55 per share on BSE. The selling pressure in the stock came a day after the company's 90-day anchor lock-in period ended.
An anchor lock-in refers to the mandatory period during which anchor investors are restricted from selling the shares they purchase in an Initial Public Offering (IPO). Anchor investors are institutional investors, such as mutual funds, insurance companies, or foreign portfolio investors, who are invited to buy shares ahead of the IPO to boost market confidence and create demand. ALSO READ: Emerald Tyre Manufacturers lists at 90% premium, hits upper circuit later
Around 12:26 PM, Bajaj Housing Finance shares were down 5.94 per cent at Rs 133 per share on BSE. In comparison, the BSE Sensex was down 0.22 per cent at 81,343.65. The market capitalisation of the company stood at Rs 1,10,764.35 crore.
Shares of Bajaj Housing Finance were listed on the bourses on September 16, 2024, at Rs 150 on the BSE, and the National Stock Exchange (NSE), surging 114.28 per cent above the IPO issue price of Rs 70. From Wednesday's close at Rs 141.4 per share on BSE, the stock is trading 50 per cent above its issue price.
The net profit of the company rose 21 per cent year-on-year (Y-o-Y) to Rs 546 crore in the second quarter of FY25 (Q2FY25) from Rs 451 crore in Q2FY24, aided by healthy growth in total income. This is the first quarterly earnings report after equity capital market listing in September, 2024.
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Bajaj Housing Finance is a non-deposit-taking housing finance company (NBFC) and subsidiary of Bajaj Finance. Established in 2008 and based in Pune, Maharashtra, the company offers a variety of financial services, primarily focused on housing loans for individual and corporate clients. Its offerings include home loans, loans against property, lease rental discounting, and developer financing for residential and commercial properties.
Bajaj Housing Finance leverages advanced technology and analytics to optimize its operations and improve customer experiences, contributing to lower operating costs. The company is listed on the National Stock Exchange and recently launched an IPO, raising funds to expand its capital base for further growth in lending operations.
ALSO READ: Bajaj Housing Finance Q2 results: Net profit rises 21% to Rs 546 crore
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