By Admin 
Block Deal: The trading session of the stock market on Tuesday is going to be very special for Bajaj Housing Finance Limited, the NBFC company of Bajaj Group. Today, on December 2, a block deal can be seen in the shares of Bajaj Housing Finance.
Bajaj Housing Finance had said on December 1 that its promoter company Bajaj Finance Limited can sell up to 2 percent of its stake in the company. The company said in the information given to the exchange that in this block deal, Bajaj Finance can sell 166,600,000 shares in one or more tranches. As of today, the promoter’s stake is 88.7 percent of the total paid up capital of the company. This step is being taken so that the newly listed company can meet the requirements of minimum public shareholding.
What are the rules of SEBI?
Bajaj Finance is proposing to sell up to 2 per cent of the shares currently held by Bajaj Housing Finance Limited, which will not exceed 16.66 crore shares, it said in an exchange filing on Monday. According to SEBI rules, public shareholding in listed companies should be at least 25 percent.
The provision for newly listed companies is that they will have to achieve at least 25 percent public shareholding within 3 years of listing. At the same time, companies whose market cap is between Rs 50,000 crore and Rs 1 lakh crore get up to five years to complete the 25 percent minimum public shareholding. Companies whose market cap is more than Rs 1 lakh crore get up to ten years to achieve MPS.
What is the base price of the share?
Bajaj Finance will sell shares in the secondary market today. In this block deal, the floor price for Bajaj Finance shares has been fixed at Rs 95 per share, which is 9.6 percent less than the previous close price. The total value of the deal will be Rs 1,580 crore. A lock-in period of 60 days has been kept on this block deal. IIFL Capital Services Limited is the sole merchant banker of this deal.
Shares are in bad shape
The housing finance company debuted in the stock market in September 2024, since then the stock is down 36 percent. Its shares have fallen by more than 23 percent in the last 12 months. In the last one week it has declined by 1 percent and in a month it has declined by 5 percent.
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