Mahalaxmi Cresec has purchased 23,00,000 shares of Indiabulls Real Estate in an open market transaction. The shares were purchased at Rs 70.67 on National Stock Exchange (NSE) on July 18, 2013.
The company’s promoters have recently acquired 23.20 lakh shares in the company between 1-3 July. As of March 31, 2013, the promoters holding in the company stood at 44.38%, while institutions and non-institutions held 32.22% and 23.24% stake in the company, respectively.
Indiabulls Real Estate is country’s third largest property company. It has various development projects in the residential, commercial, hotels, malls, and Special Economic Zone (SEZ) segments. The company’s projects portfolio includes high-end office and commercial spaces, premium residential developments, integrated townships, luxury resorts and SEZs.