Bajaj Housing Finance Ltd. (BHFL) has caught the market’s attention this week as its one-year lock-in period expired, unlocking a massive number of shares for trading. As of April 15, 2025, approximately 529.1 crore shares – accounting for nearly 64% of the company’s total equity – have become available for trade on the stock exchanges.
What Does This Mean?
When a company gets listed, a certain portion of its shares—especially those held by anchor investors, promoters, or early stakeholders—is typically locked in for a fixed period to maintain stability and prevent immediate sell-offs. With Bajaj Housing Finance completing one year since its listing, this lock-in period has officially ended, bringing fresh liquidity to the market.
However, it’s worth noting that not all unlocked shares are expected to be sold right away. A significant chunk still remains with the promoters and group entities. According to the December 2024 shareholding data, promoters held 88.75% in the company. This means the actual floating stock might still remain limited, despite the unlock.
Stock Performance So Far
BHFL made its market debut in April 2024 with an IPO price of ₹70 per share, and it had a strong listing at ₹150, more than double the issue price. The stock even touched a high of ₹188, but has since witnessed some correction and is currently trading at ₹119.60 (as of April 15, 2025).
Even with the pullback, the current price still represents a 70%+ return from the issue price – a healthy gain for long-term investors.
Financial Performance
The company’s operational performance has also been impressive. According to provisional numbers for Q4 FY25, BHFL’s:
- Assets Under Management (AUM) stood at around ₹1.14 lakh crore, a 26% YoY growth.
- Loan Assets rose to ₹99,500 crore, compared to ₹79,301 crore in the same period last year.
Such robust growth showcases the strength of its lending operations, even in a competitive market.
IPO Flashback
The ₹6,560 crore IPO of BHFL in 2024 was one of the most talked-about listings of the year. It saw an oversubscription of ₹3.23 lakh crore, reflecting strong investor demand. The IPO structure included:
- A fresh issue of ₹3,560 crore, and
- An offer-for-sale (OFS) of ₹3,000 crore by the parent company, Bajaj Finance Ltd.
About Bajaj Housing Finance
BHFL is a non-deposit taking Housing Finance Company, registered with the National Housing Bank (NHB). It was incorporated in September 2015, and in a short span has built a strong presence in the housing finance space.
The company offers a wide range of financial products including:
- Home loans for purchase and construction
- Loans for property renovation
- Loans against property
- Lease rental discounting
- Developer finance
It caters to both salaried and self-employed customers across urban and semi-urban areas.
Final Thoughts
The expiry of the lock-in period and the sudden influx of tradable shares will be something to watch closely. While large sell-offs haven’t been witnessed yet, investor sentiment and market reaction will play a key role in deciding the next movement of the stock.
With strong fundamentals, a solid promoter group, and an impressive growth trajectory, Bajaj Housing Finance remains a stock to keep an eye on—especially now that its float in the market has increased.
