Exchanges reclassify Sameer Gehlaut's stake as 'public'; stock falls 5%

With the re-classification, the promoter shareholding in the company has been reduced to nil from 9.6 per cent

Shares of Indiabulls Housing Finance cracked 5 per cent to Rs 101.8 on the BSE in Thursday's intra-day trade, extending its decline intor fifth straight session. Including today's fall, the stock has declined 13.6 per cent over the last five days. In comparison, the BSE Sensex index has slipped 3 per cent.

Meanwhile, Thursday's slide on the bourses came as the BSE and the National Stock Exchange have approved the reclassification of Sameer Gehlaut and his trusts to the category of "Public" shareholders from "Promoter."

With the re-classification, the promoter shareholding in the company has been reduced to nil from 9.6 per