NEW DELHI: Shares of Bajaj Housing Finance, a Bajaj Group company, continued to rise on Wednesday, March 19. The stock gained as much as 6%, extending its rally for the second consecutive day. The stock was closed today at โน8737.15
Despite this recovery, Bajaj Housing Finance shares are still trading 34% below their post-listing high of โน188. However, the stock remains well above its IPO price of โน70.
Investors are closely watching the leadership situation at Bajaj Finance. The term of its MD & CEO Rajeev Jain is set to end on March 31. While Jain has assured that he will continue to stay with the company, his exact role after March 31 remains uncertain.
Meanwhile, an important date for Bajaj Housing Finance is approaching. On April 15, the companyโs one-year shareholder lock-in period will end. According to a note from Nuvama Alternative and Quantitative Research, as many as 529 crore shares, or 64% of Bajaj Housing Financeโs outstanding equity, will become eligible for trading once the lock-in ends.
It is important to note that the end of the lock-in period does not mean all 529 crore shares will be sold immediately. Instead, they will only become eligible for trade.
Despite concerns, Bajaj Housing Finance shares traded 5.7% higher at โน124.35 on Wednesday.
The company offers a range of financial products, primarily focused on home loans, loans against property, and developer financing.
Founded to cater to retail and commercial real estate needs, Bajaj Housing Finance provides customized solutions for homebuyers, property owners, and developers. The company emphasizes competitive interest rates, flexible repayment options, and a streamlined loan application process.
