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.

Team Asianet Newsable

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.

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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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