Big bull Rakesh Jhunjhunwala picks stake in this HFC during Q4


Leading investor Rakesh Jhunjhunwala has made notable purchases in a leading housing finance company for the quarter ended March 2022 (Q4F22). It will be none other than Indiabulls Housing Finance.

Haryana based mortgage lending company is the third largest housing finance service provider in India.

As per the latest shareholding pattern, in Q4FY22, Jhunjhunwala’s stake in Indiabulls Housing Finance rose 0.2% to 60 lakh equity shares or 1.28%. In Q3FY22, the investor held 50 lakh equity shares or 1.08% of the company.

Rakesh Jhunjhunwala, often referred to as the big bull of Dalal Street, has invested in Indiabulls Housing Finance since June last year.

As per Trendline data, the value of Jhunjhunwala’s stake in Indiabulls Housing Finance is around 96 crores.

Shares of Indiabulls Housing Finance closed down 1.94 per cent on BSE today. 159.05 each. At the current closing price, the market cap of the company is 7,452.63 crores.

Jhunjhunwala opted for Indiabulls Housing shares despite a sharp correction in the stock in Q4FY22.

From January to March 2022, Indiabulls Housing shares fell over 28.5% on the BSE. Whereas so far this year, the shares have fallen by about 28 per cent.

Indiabulls Housing Finance is expected to disburse retail loans up to 18,000 crore in FY23, and 24,000 crore in FY24. Meanwhile, the company aims to disburse 15,000 crore through wholesale loans AIF platforms in FY23 and 20,000 crore in FY24.

The above roadmap was announced in Q3FY22. The company is yet to announce its financial performance for Q4FY22.

Indiabulls Housing Finance offers quick, convenient and competitively priced home loans in the affordable housing segment. The company’s primary goal is to ensure a better home buying experience for its customers and make housing finance more affordable and viable by contributing to the ecosystem that supports it.

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