Daijiworld Media Network – Mumbai

Mumbai, Dec 2: Shares of Bajaj Housing Finance tumbled nearly 9% to Rs 95 apiece in early trades on Tuesday after reports emerged that 19.5 crore shares, representing 2.35% equity worth Rs 1,890 crore, were exchanged at Rs 97 each through a block deal.

The move follows Bajaj Finance, the promoter, announcing its plan to divest up to 2% of its stake in Bajaj Housing Finance to comply with minimum public shareholding requirements. As of December 1, Bajaj Finance held 739 crore shares, accounting for 88.7% of the company’s paid-up capital.

Bajaj Housing Finance stated in a regulatory filing that the promoter’s sale period would run from December 2, 2025, to February 28, 2026, or until all shares are sold, whichever is earlier.

The company made a strong market debut on September 16, 2024, with its shares listing at Rs 150, a 114% premium over the Rs 70 issue price. The IPO, valued at Rs 6,560 crore, received overwhelming interest, with a 63.6-times subscription.

The promoter’s stake reduction comes amid India’s regulatory requirement that listed companies maintain a minimum 25% public shareholding, ensuring better market liquidity and corporate governance.