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Indiabulls Real Estate falls 18% on stake sale by promoter group trust

IBREL IBL Scheme Trust sold 33 million shares of the company for about Rs 663 crore.

SI Reporter  |  Mumbai 

Indiabulls Real Estate slipped 18.5% to Rs 173 on BSE in intra-day trade on the back of heavy volumes after the company said that its promoter group entity IBREL IBL Scheme Trust sold 33 million shares of the company for about Rs 663 crore. “IBREL IBL Scheme Trust, of which Indiabulls Real Estate (the Company) is the sole beneficiary, has sold 33 million shares of the Company, on 22nd June 2017 at the stock exchanges, and has realised approx.

Rs 662.83 crore at an average price of about Rs 200.85 per share,” Indiabulls Real Estate said in a BSE filing. The sale proceeds ...

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First Published: Thu, June 22 2017. 15:17 IST
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