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As many as 12.5 crore shares of the company will be freed up to trade as the shareholder lock-in ends.
The number of shares amount to 2% of the outstanding equity of Bajaj Housing Finance.
It needs to be specified that the end of a lock-in period does not mean all the shares will be sold in the open market but will only be freed up to trade.
Bajaj Housing Finance made its stock market debut in September this year after its three-day IPO saw bids worth up to ₹3 lakh crore in comparison to the company planning to raise ₹6,560 crore.
The stock listed at a hefty premium to its IPO price, more than doubling from levels of ₹70 and went on to make a post-listing high of ₹188.5. However, the stock has cooled off from those levels, trading in a narrow range since then.
Although the stock has recovered from its recent lows of ₹125, what needs to be watch out for is the results for the coming quarters, which can determine which way the stock moves.
Among the six analysts that have coverage on Bajaj Housing Finance, two of them have a “buy” rating on the stock, three have a “sell” rating, while one has a “hold” recommendation.
Shares of Bajaj Housing Finance ended 0.8% higher on Wednesday at ₹141.2. The stock is down 25% from its post-listing peak.
