Mumbai/IBNS, Dec. 2 -- Shares of Bajaj Housing Finance tumbled over 9 percent to hit a 52-week low on Tuesday after promoter Bajaj Finance announced plans to divest a portion of its shareholding worth Rs. 1,740 crore, according to media reports.

Bajaj Finance is set to sell 2 percent of its stake, valued at more than Rs. 1,740 crore, as part of an exercise to meet minimum public shareholding norms. The company plans to offload 16.66 crore shares in one or more tranches.

As of the July-September quarter of FY25, Bajaj Finance held 88.70% stake in Bajaj Housing Finance, with the remaining owned by public shareholders.

The divestment process will be carried out between December 2024 and February 2026, Bajaj Housing Finance confirmed.

Baj...