Mon Sep 16 09:59:56 UTC 2024: ## Bajaj Housing Finance Listing Sends Shockwaves Through Housing Finance Sector

**Mumbai, India (September 16, 2024):** The blockbuster listing of Bajaj Housing Finance on the stock market sent ripples through the housing finance sector on September 16, causing LIC Housing Finance and PNB Housing Finance shares to plummet by up to 6%.

Bajaj Housing Finance debuted on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) at a whopping 114% premium over its upper price band of ₹70. The stock subsequently surged another 10%, hitting the upper circuit at ₹165. The company’s ₹6,560 crore IPO had also witnessed a phenomenal response, garnering a 63.60 times subscription. This marked the first listing of a Bajaj Group company in several years.

**LIC Housing Finance and PNB Housing Finance Share Price Drop**

PNB Housing Finance opened at ₹1154.10 on the BSE, but subsequently tumbled by 5.6% to reach a low of ₹1071.60. The company’s market capitalization stands at ₹28,400 crore.

LIC Housing Finance began the day with a surge, opening at ₹728.35 on the BSE. However, it quickly shed 6% from its previous closing price, touching a low of ₹678.10. The company’s market capitalization currently stands at ₹37,500 crore.

Despite the decline in LIC Housing Finance and PNB Housing Finance share prices, the Indian housing finance market is expected to grow at a compounded annual growth rate of 24.1% from 2024 to 2033, according to research. The market valuation is projected to reach ₹385.14 billion in 2024.

**Bajaj Finance and Bajaj Finserv Witness Decline**

While the strong listing of Bajaj Housing Finance was anticipated to boost the share prices of its parent company, Bajaj Finance, the stock witnessed a 3% decline on September 16. Bajaj Finserv also suffered a 2% drop. Both stocks had closed with a 2% gain on Friday, September 13.

**Disclaimer:** This information is provided for informational purposes only. Investment in the market is subject to market risks. Always consult an expert before investing. Moneycontrol does not advise any individual to invest.

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