At 10:36 am, the stock was trading 5% lower at Rs 238 on BSE and NSE. A combined 41.89 million shares representing 8.8% of total equity of Indiabulls Real Estate have changed hands on both the exchanges, data shows.
The name of the buyers and sellers were not ascertained immediately.
The promoter group entity IBREL IBL Scheme Trust had sold its entire of 8.99% in the company through open market in past two months.
“IBREL IBL Scheme Trust, of which Indiabulls Real Estate (the Company) is the sole beneficiary, has sold 33 million shares or 6.99% stake 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 had said in a BSE filing.
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