IBREL IBL Scheme Trust, of which Indiabulls Real Estate is the sole beneficiary, has sold 3.3 crore shares of the company on June 22, 2017 at the stock exchanges, and has realized around Rs 662.83 crore at an average price of about Rs 200.85 per share.
The sale proceeds would be used for meeting company’s funding requirements for its ongoing businesses and general corporate purposes or any other purposes as may be approved by its Board.
Indiabulls Real Estate is India's third largest real estate company, with its focus on construction and development of residential, commercial and SEZ projects across major Indian metros.
