IFCI has sold over three million shares of Orbit Corporation in past one week through open market. The state-run lender has offloaded 3.18 million shares representing 2.79% stake of realty firm for Rs 7.5 crore between May 19 and May 26.
On May 26, 2014 IFCI sold 735,000 shares of Orbit Corporation at Rs 23.45 on the NSE. On May 23, it sold 1.09 million shares at Rs 25.25 on the NSE.
Orbit Corporation is a leading Mumbai real estate developer focused on luxury real estate development in South Mumbai.