Foreign fund house Sloane Robinson LLP has hiked its stake in Indiabulls Real Estate to 5.42 per cent through open market share acquisition.     

UK-based Sloane Robinson LLP, as investment manager of various entities, has bought 19.82 lakh shares (0.50 per cent stake) of Indiabulls Real Estate Ltd through open market transactions, the realty developer said in a disclosure to the Bombay Stock Exchange (BSE).     

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The transaction of shares was executed on October 8, the disclosure added. The value of the transaction comes at about Rs 57 crore when calculated with the closing share price of Indiabulls Real Estate on October 8 on the BSE.

In afternoon trade, shares of Indiabulls Real Estate were trading at Rs 282.60, down 3.63 per cent.                        

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