IDBI sells 2.3% stake in Parsvnath

Realty firm Parsvnath today said IDBI Trusteeship Services Ltd has diluted its stake in the company to 13.36% by offloading one crore shares.

In a filing to the BSE, Parsvnath said IDBI Trusteeship Services has released the shares, leading to dilution of its stake in the company by 2.3% stake from 15.66% earlier.

Post this transaction, IDBI Trusteeship Services at present hold 5.81 crore shares as against 6.81 crore shares earlier, it added.

The company did not disclose the financial details of the transaction.

Parsvnath Developers' shares were trading 0.16% up at Rs 61.50 apiece on the BSE during late afternoon.

Earlier this month, Parsvnath Developers Chairman Pradeep Jain had bought 5.30 lakh shares of the company for nearly Rs 3 crore through open market transactions.