Shares of Bajaj Housing Finance tumbled 6% in intraday commerce on Thursday, December 12 to a two-week low of ₹132.80 apiece. This decline comes because the three-month shareholder lock-in interval ended at this time, releasing 12.5 crore shares, or 2% of the excellent fairness of Bajaj Housing Finance, which is now out there on the market within the secondary market.
The lock-in interval, which utilized to pre-IPO buyers, has now expired, enabling these buyers to promote their stakes by way of inventory exchanges. The corporate’s shares made a bumper debut on the inventory exchanges on September 16, itemizing at ₹150, a 114.3% premium over the IPO value of ₹70 apiece.
The IPO obtained a stellar response from buyers, with bids exceeding ₹3 lakh crore in opposition to a difficulty dimension of ₹6,560 crore. Publish-listing, the shares continued their successful streak, hitting a report excessive of ₹188 apiece.
Nonetheless, the rally could not be sustained amid broader market volatility, and the inventory tumbled beneath its itemizing value, reaching ₹125 in November. Since then, the inventory has seen some restoration, gaining 8% from its November low ranges.
Bajaj Housing Finance is a part of the esteemed Bajaj Group, a number one Indian conglomerate with a various portfolio. The group contains distinguished listed entities comparable to Bajaj Finance, a high non-banking monetary firm, and Bajaj Auto, a key participant within the automotive sector.
Established in 2008 and a registered non-deposit-taking housing finance firm with the Nationwide Housing Financial institution (NHB) since 2015, Bajaj Housing Finance started providing mortgage loans in FY18. It’s wholly owned by Bajaj Finance, of which 51.34 per cent is held by Bajaj Finserv. Each are labeled as promoters of Bajaj Housing Finance.
AUM crossed ₹one lakh crore in Q2
The corporate achieved a major milestone in Q2 FY25, with its Belongings Beneath Administration (AUM) crossing ₹1 lakh crore mark, reaching ₹1.02 lakh crore in comparison with ₹81,125 crore in the identical interval final 12 months.
Disbursements through the quarter stood at ₹12,014 crore, according to ₹12,154 crore in Q2 FY24, which was pushed by just a few marquee transactions within the business enterprise. As of September 30, 2024, the corporate maintained a liquidity buffer of ₹3,220 crore, with a liquidity protection ratio of 220.9%, considerably larger than the regulatory requirement of 85%, as per the corporate’s Q2 earnings submitting.
Operational effectivity improved, with Opex to NTI decreasing to twenty.5% in Q2 FY25 from 22.1% in Q2 FY24, and for H1 FY25, it stood at 20.7%, in comparison with 23.0% in H2 FY24. The corporate additionally reported a revenue after tax (PAT) of ₹546 crore for the quarter, a notable enhance from ₹451 crore in Q2 FY24.
