Following Bajaj Finance's equity sale, the share price of Bajaj Housing Finance plummets by 9%.

In an exchange filing on Monday, Bajaj Housing Finance revealed that Bajaj Finance, the company's promoter, intends to sell up to 2% of its ownership.

After 19.5 crore shares, or 2.35% of Bajaj Housing Finance's equity, were traded at ₹97 per share in a block deal, the company's share price dropped more than 9% to ₹95.26 per share during Tuesday's trading session.

The business said in an exchange filing on Monday that Bajaj Finance, the company's promoter, intends to sell up to 2% of its ownership. “Bajaj Finance Limited, the promoter of the Company, has conveyed to us their intention to sell the Equity Shares to enable us to comply with the requirements of minimum public shareholding,” the business said in the filing. According to the report, promoter Bajaj Finance Limited had 7,39,10,03,845 equity shares, equivalent to 88.70% of the total paid-up capital of the firm, as of the date.