Bajaj Housing Finance shares drop 4% as 1-month lock-in period expires today
Shares of the recently-listed Bajaj Housing Finance dropped 4% to their day’s low of Rs 144.90 on the BSE as the 1-month share lock-in period of the stock expired today.
This means that approximately 12.6 crore (126 million) shares of the company, which were previously locked in and prohibited from sale, will now be eligible to be sold.
These 12.6 crore shares represent 2% of the total outstanding shares of the company, according to a report by domestic research firm Nuvama Alternative & Quantitative Research.
A 1-month share lock-in period refers to a time frame of a month, during which certain shareholders are restricted from selling or transferring their shares in the market.
When a company goes public through an IPO, certain investors…
