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Bajaj Housing Finance hits new highs: Shares up 3% in early trading

In the previous two trading sessions, Bajaj Housing Finance saw its stock price climb 10%, hitting the upper circuit limit. As of September 18, the company's market capitalisation has reached Rs 1,53,937.46 crore on the BSE.

Bajaj Housing Finance hits new highs: Shares up 3% in early trading AJR
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First Published Sep 18, 2024, 11:14 AM IST | Last Updated Sep 18, 2024, 11:14 AM IST

Bajaj Housing Finance shares on Wednesday (September 18) continued their upward trajectory, surging over 3% in early trade. This marks the third consecutive session of gains for the newly listed firm. The stock experienced an intraday low of Rs 171.16 per share on the BSE, reflecting a 5.68% drop. However, it quickly recovered, with shares trading at Rs 184.84 by 9:35 am, up 1.85%. This continued rally follows the company's impressive market debut and significant growth in the past two days.

In the previous two trading sessions, Bajaj Housing Finance saw its stock price climb 10%, hitting the upper circuit limit. As of September 18, the company's market capitalisation has reached Rs 1,53,937.46 crore on the BSE.

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On Monday, the firm made a debut on the stock market, closing with a premium of nearly 136% against its issue price of Rs 70. The shares were listed at Rs 150 on both the BSE and NSE, marking a 114.28% jump from the issue price.

Bajaj Housing Finance's Rs 6,560 crore initial public offering (IPO) was a major success, receiving 63.60 times subscription on its final day of bidding, September 11. The IPO included a fresh issue of Rs 3,560 crore in equity shares and an offer-for-sale (OFS) worth Rs 3,000 crore by parent company Bajaj Finance.

Registered with the National Housing Bank in 2015, Bajaj Housing Finance is a non-deposit-taking housing finance company. It offers a range of mortgage solutions, including home loans, loans against property, and developer financing. Recognised as an "upper layer" NBFC by the RBI, the firm plays a key role in financing residential and commercial properties.

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