Bajaj Finance to sell 2% stake in Bajaj Housing Finance in a block deal: report

Bajaj Housing Finance could see a block deal on Tuesday where promoter Bajaj Finance could sell a 2% stake in the company, a report said. The floor price for the offer is likely to be set at Rs 95 per share, a discount of 9% to today’s closing price of Rs 104.59 on the NSE.According to a report by ET Now, there will be 16.6 crore shares in the market. The promoter entity currently holds 88.70% stake in Bajaj Housing Finance, which accounts for over 739 crore shares.

Shares of Bajaj Housing Finance, listed on September 16, 2024, have fallen 23% in the last twelve months and are currently trading below their 50-day and 200-day simple moving averages of Rs 109 and 116 respectively, according to data from Trendlyne.

The share is in the highly oversold zone compared to the MFI and fluctuates around 23 points. A number below 30 is considered oversold, while above 70 is considered overbought.

Bajaj Housing Finance’s Rs 6,560 crore IPO created a lot of buzz around the launch time. The issue was subscribed 67.43 times, with retail investor quota bid around 7.4 times. The company had fixed the price range at Rs 66 to Rs 70 per share.

The company’s net profit of Rs 643 crore in the quarter ended September recorded an increase of 18% from Rs 546 crore reported in the year-ago period. Sales in the quarter under review stood at Rs 2,755 crore, up 14% compared to Rs 2,410 crore posted by the company in the corresponding quarter of the last fiscal.

Profit after tax (PAT) rose 10% on a sequential basis compared to Rs 583 crore in Q1FY26, while revenue rose 5.3% on a quarter-on-quarter basis compared to Rs 2,616 crore reported in the April-June quarter of FY26.

The company achieved 34% growth in its net interest income (NII) at Rs 956 crore in Q2FY26, compared to Rs 713 crore in the same period a year ago. Net interest margins (NIMs) were 4%, stable on a sequential basis but down 10 basis points compared to 4.1% in the same period a year ago.

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