Bajaj Housing Finance Shares Drop 9% to 52-Week Low on Promoter Block Deal

Finance shares plunged over 9% to a 52-week low of ₹95 on December 2 after a massive block deal of 21.77 crore shares (worth ~₹2,077 crore) hit the market. The sell-off was triggered by promoter Bajaj Finance’s plan to offload up to 2% stake (~16.66 crore shares) in one or more tranches to meet minimum public shareholding norms. The company lost nearly ₹7,000 crore in market cap in early trade. Since its blockbuster listing in September 2024 at ₹150 (114% premium), the stock has now fallen over 36% from its peak.