Bajaj Finance Set to Sell 2% Stake in Bajaj Housing Finance in Block Deal
Bajaj Housing Finance is set to witness a significant block deal on Tuesday, where promoter Bajaj Finance may sell a 2% stake in the company, according to a recent report. The offer floor price is likely to be set at Rs 95 per share, representing a 9% discount over today's closing price of Rs 104.59 on the NSE.
According to an ET Now report, 16.6 crore shares will be on the block. The promoter entity currently holds an 88.70% stake in Bajaj Housing Finance, which accounts for over 739 crore equity shares.
Listed on September 16, 2024, shares of Bajaj Housing Finance have experienced a decline of 23% in the past 12 months. Currently, the stock is trading below its 50-day and 200-day simple moving averages of Rs 109 and Rs 116, respectively, according to Trendlyne data. The stock is in a strongly oversold zone, with its Money Flow Index (MFI) hovering near the 23-mark. A number below 30 is considered oversold, while above 70 is seen as overbought.
Bajaj Housing Finance's Rs 6,560 crore Initial Public Offering (IPO) generated a lot of buzz around its launch time. The issue was subscribed 67.43 times, with the retail investor quota receiving bids around 7.4 times. The company had set the price band at Rs 66 to Rs 70 per share.
In the September-ended quarter, Bajaj Housing Finance reported a net profit of Rs 643 crore, marking an 18% jump from Rs 546 crore reported in the year-ago period. The company's revenue for the quarter stood at Rs 2,755 crore, up 14% from Rs 2,410 crore in the corresponding quarter of the last financial year.
The profit after tax (PAT) increased by 10% on a sequential basis, compared to Rs 583 crore in Q1FY26. The topline grew by 5.3% on a quarter-on-quarter basis, from Rs 2,616 crore reported in the April-June quarter of FY26.
The company delivered a 34% growth in its net interest income (NII) in Q2FY26, reaching Rs 956 crore, up from Rs 713 crore in the year-ago period. The net interest margins (NIMs) stood at 4%, flat on a sequential basis but down by 10 basis points compared to 4.1% in the year-ago period.
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