Shares of Bajaj Housing Finance Ltd. tumbled more than 9% to ₹95 on December 2, hitting their lowest level since the company's blockbuster market debut in September 2024. The sharp decline followed massive block deals where 21.77 crore shares changed hands at an average price of ₹95.39 per share, amounting to approximately ₹2,077 crore.

Promoter Stake Sale Behind the Move

The selloff came a day after Bajaj Housing Finance announced that its promoter, Bajaj Finance Ltd., plans to sell up to a 2% stake in the company to help it comply with minimum public shareholding (MPS) norms. Bajaj Finance currently holds an 88.70% stake in the housing financier.

According to an exchange filing, Bajaj Finance intends to sell up to 16.66 crore shares in one or more tranches between December 2, 2025, and February 2026. Reports indicated the base price for the block deals was set at ₹95 per share, a discount of over 9% to the previous closing price.

Market Capitalization Erodes

Following the block deals, Bajaj Housing Finance’s market capitalization eroded by roughly ₹7,000 crore, falling from approximately ₹87,148 crore to around ₹80,224 crore.

Stock Performance Context

• Since Listing: The stock has fallen more than 36% from its listing price of ₹150 (a 114% premium to its IPO price).
• Since IPO: It still trades about 36% above its IPO price of ₹70 per share.

The company’s ₹6,560-crore IPO in September 2024 was subscribed more than 67 times, reflecting strong initial investor appetite.