Indiabulls Real Estate gains on the buzz of planning to sell 14% stake to third party investors

07 Jun 2019

Indiabulls Real Estate is currently trading at Rs. 131.75, up by 0.15 points or 0.11% from its previous closing of Rs. 131.60 on the BSE.

The scrip opened at Rs. 140.35 and has touched a high and low of Rs. 151.00 and Rs. 131.35 respectively. So far 72249624 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 180.40 on 07-Jun-2018 and a 52 week low of Rs. 63.05 on 06-Feb-2019.

Last one week high and low of the scrip stood at Rs. 151.00 and Rs. 120.20 respectively. The current market cap of the company is Rs. 6061.59 crore.

The promoters holding in the company stood at 38.90%, while Institutions and Non-Institutions held 28.82% and 32.28% respectively.

Indiabulls Real Estate’s promoters are reportedly planning to sell 14% of the fully paid-up capital to third-party investors, a move that has been planned to ensure focus on the financial services business in the long run. The company is seeking to exit the business ahead of the proposed merger of Indiabulls Housing Finance with Lakshmi Vilas Bank.

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.

Related Indiabulls Real Estate Ltd. Links:

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Puchho Befikar
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