Bajaj Housing Finance shares will be in focus in trade on December 12 as the three-month shareholder lock-in period for anchor investors comes to an end.
Up to 12.6 crore shares or around 2 percent of the total equity in the firm will be freed up for trade. However, this doesn't mean investors will offload their holdings, its just been freed up for trade.
While the Bajaj Housing Finance stock is trading over 100 percent higher than its issue price of Rs 70 at Rs 141 per share, it has correct over 25 percent from its post-listing high of Rs 188. Further, the current stock price of the company is below its listing price. The shares of the company debuted on the exchanges at Rs 150 apiece.
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The Bajaj group firm's one month lock-in period for anchor investors had ended on October 6, with 2 percent equity being freed up.
The Rs 6,560-crore initial public offer (IPO) of Bajaj Housing Finance received an overwhelming response earlier this year, with subscriptions totaling a whopping Rs 3.23 lakh crore.
The Bajaj Housing Finance IPO consisted of a fresh issue of equity shares amounting to Rs 3,560 crore and an offer-for-sale (OFS) of equity shares worth Rs 3,000 crore by parent company Bajaj Finance.
Bajaj Housing Finance, registered with the National Housing Bank in September 2015, is a non-deposit-taking housing finance company. The company provides financial solutions for buying and renovating both residential and commercial properties.
Categorised as an "upper layer" non-banking financial company (NBFC) by the Reserve Bank of India (RBI), its mortgage offerings include home loans, loans against property, lease rental discounting, and developer financing.
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