Bajaj Housing Finance share price rose over 3 percent in the early trade on Wednesday, September 18 extending its gain for the consecutive third trading session today.
Bajaj Housing Finance stock fell to its intraday low of Rs 171.16 per share on the BSE, down by 5.68 percent. However, shortly after it pared its losses to extend the gains. At the time of publishing, the stock was trading at Rs 184.84 per share on the BSE, 1.85 percent at 9.35 am.
In previous two trading sessions, shares of newly listed firm surged 10 percent to hit the upper circuit limit of 10 percent. The company's market valuation has climbed to Rs 1,53,937.46 crore as of 18th September on the BSE.
Shares of Bajaj Housing Finance Ltd made a solid market debut on Monday and ended with a huge premium of nearly 136 per cent against the issue price of Rs 70.
The stock was listed at Rs 150 on the BSE and NSE, reflecting a jump of 114.28 per cent from the issue price. The Rs 6,560-crore initial public offer of Bajaj Housing Finance Ltd received 63.60 times subscription on September 11, the last day of bidding, amid overwhelming participation from institutional buyers.
The IPO comprised a fresh issue of equity shares amounting to up to Rs 3,560 crore and an offer-for-sale (OFS) of equity shares valued at Rs 3,000 crore by the parent company, Bajaj Finance.
This non-deposit-taking housing finance company was registered with the National Housing Bank in September 2015. It provides financial solutions for buying and renovating both residential and commercial properties. Recognised as an "upper layer" non-banking financial company (NBFC) by the Reserve Bank of India (RBI), the firm's extensive mortgage offerings include home loans, loans against property, lease rental discounting, and developer financing.
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