Bajaj Housing Finance Share Price Rises Nearly 6% On Likely OFS

Bajaj Housing Finance Ltd. shares rose nearly 6% during the early session on Thursday, Aug. 14, amid a surge in trading volume due to a likely offer for sale by the promoter company Bajaj Finance Ltd.

NDTV Profit reported a day ago that dealers indicate Bajaj Finance has started the OFS to pare stake. The pricing is expected to be at a 10% discount compared to Wednesday's closing price.

The OFS is being conducted to meet SEBI norms regarding the minimum public shareholding that warrants a free float of at least 25%. Promoter Bajaj Finance owns 88.7% equity as of June. Retail investors holding nominal share capital up to Rs 2 lakh have a stake of 7.9%.

Bajaj Housing share price rose as much as 5.9% to Rs 114.92 apiece on the NSE. The total traded volume stood at 9.4 times the 30-day average. The value of the traded shares on the NSE was Rs 140.29 crore. The relative strength index was 42.

The stock has declined 31% since listing in September 2024. Out of the 10 analysts tracking Bajaj Housing Finance, six have a 'sell' rating on the stock, and two each recommend 'buy' and 'hold', as per Bloomberg data.