Private Equity

PE Fund Investments

Indiabulls founder to sell 12% stake to Blackstone, others for Rs.1,450-Cr

Times of India  

Indiabulls Housing Finance's main promoter Sameer Gehlaut is set to offload 11.9% in the company through block deals worth about INR 1,450 crore. US private equity giant Blackstone is the anchor investor, while Abu Dhabi Investment Authority (ADIA) and some other large global investors are set to pick up the stake through block deals. Gehlaut, along with the promoter family's investment company Inuus Infrastructure, have mandated Jefferies India to sell 5.5 crore shares of Indiabulls Housing Finance (IBHFL) at a price band of INR 262.4 to INR 267.6 per share. This would translate to an aggregate deal value of INR 1,472 crore at the upper end of the price band. The deal is part of IBHFL promoters' plan to exit the company completely.