Bajaj Housing Finance shares are down 30% from peak; Shareholder lock-in ends on Thursday

Shares of Bajaj Housing Finance Ltd. have been consolidating after correcting from their post-listing peak. The stock had more than doubled from its IPO price of ₹70 within a few days of listing before correcting.

The stock is now down 30% from its post-listing peak of ₹188. The stock made a low of ₹125 recently and is now declining back towards those levels after a brief recovery.

The stock has declined as much as 6% on Thursday, December 12 as another lot of its shareholder lock-in period ends.

As many as 12.6 crore shares of Bajaj Housing Finance or 2% of its outstanding equity will free up for trade once the lock-in period ends.

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 ranks among the successful IPOs of 2024 as the ₹6,560 crore issue was subscribed close to 67 times. Such was the demand that the IPO ended up with bids worth over ₹3 lakh crore.

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 are trading 5.2% higher at ₹134. The stock is flat in the last one month.