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Bajaj Finance reduced its shareholding in Bajaj Housing Finance by offloading nearly 2 per cent of its stake via an open-market deal valued at INR 1,588 crore. Bulk deal information released by the National Stock Exchange showed that 16.66 crore shares were sold at an average price of INR 95.31 each. Following this transaction, Bajaj Finance's holding slipped from 88.70 per cent to 86.71 per cent. While buyer identities were not disclosed, the development coincided with a sharp intraday decline in Bajaj Housing Finance's share price. The sale also followed the company's strong second-quarter earnings performance earlier this year.
Bajaj Finance Ltd, a key promoter entity of Bajaj Housing Finance, divested around 2 per cent of its stake in the mortgage subsidiary earlier this week through an open-market transaction valued at INR 1,588 crore. Bulk deal information made available on the National Stock Exchange indicated that the company sold 16.66 crore shares, amounting to a 1.99 per cent stake in Bajaj Housing Finance. Advertisement
These shares were offloaded at an average price of INR 95.31 each, bringing the overall deal value to roughly INR 1,587.86 crore. Following the disposal, Bajaj Finance's ownership in Bajaj Housing Finance reduced from 88.70 per cent to 86.71 per cent. The exchange data did not specify the identities of the buyers who acquired the shares.
Bajaj Housing Finance's stock ended the session about 7.02 per cent lower, closing at INR 97.15 on the NSE. The transaction came shortly after the company posted its second-quarter results earlier this year, when it reported an 18 per cent increase in net profit to INR 643 crore. The firm had earned INR 546 crore in the same period a year earlier. Its total income for the quarter rose to INR 2,755 crore from INR 2,410 crore in the corresponding period of the previous year.
The stake reduction marks a notable development in the ownership structure of Bajaj Housing Finance, particularly as it coincided with a sharp decline in the company's share price and followed a strong financial performance earlier this year. The transaction also highlights Bajaj Finance's continued portfolio adjustments within the broader Bajaj Group's financial services ecosystem.
Source - PTI
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