Public Market

Other Deals - Listed Firms

Sameer Gehlaut sells 11.9% stake in Indiabulls HFC for Rs.1,450-Cr; to resign by March-end

Business Standard  

Sameer Gehlaut, the promoter of Indiabulls Housing Finance (IHFL), has sold 11.9 % in the company in numerous block deals on Thursday to over 10 entities. The combined value of the transactions is estimated at around INR 1,450 crore, at an average price of around INR 264 a share. He will be stepping down from the board before March 31, 2022 and cease to be classified as a promoter of the company. Among entities that bought Gehlaut's stake include BREP Asia II Indian Holding Company (2.27 %), Abu Dhabi Investment Authority (1.25 %), Tosca (1.26 %; across three funds), Invesco Mutual Fund (1.24 %; across four funds), and Quant Mutual Fund (0.89 %; across six funds). IMF, and funds of HSBC, Morgan Stanley, and GMO were also among buyers. Gehlaut had held a 21.69 % in the company through stakes held in individual capacity , Sameer Gehlaut Trust and Inuus Infrastructure. After Thursday's transactions, he will be left with a residual 9.8% stake. Gehlaut will continue as chief executive officer (CEO) of Dhani Services, a company that was demerged from IHFL.