Sameer Gehlaut, protagonist of Indiabulls Housing Finance, on Thursday vended a nearly 12 per cent stake in the establishment through protagonist companies to make it a completely professionally managed reality.
“ I’ve vended11.9 per cent in the company with a view to make the company a completely professionally managed and run company.
With this trade, I and my protagonist companies now enjoy9.8 per cent of the company. I intend to hold these shares and share in the unborn growth story of the company,” Indiabulls Housing Finance quoted Gehlaut as saying in a nonsupervisory form.
In a letter transferred to the board members of the company, Gehlaut said ever since going public in September 2004 at Rs 19 per share, Indiabulls Housing Finance has been a “ fabulous success story”.
Gehlaut said he’ll be relinquishing from the board of the company by the end of the current financial, ending March 31, 2022, and will be completing the process ofde-promotorisation of the company with needful blessings.
Two times agone, the casing financier had envisaged to be a professionally run and innovative fiscal institution with a strong balance distance, strong liquidity and masterclass commercial governance.
Gehlaut held a aggregate of21.69 per cent stake in the company in his particular capacity (0.11 per cent) and through his protagonist companies — Inuus Structure Pvt Ltd (7.70 per cent) and Sameer Gehlaut IBH Trust (13.89 per cent), before dealing his nearly 12 per cent stake on Thursday.
As per bulk deal data on BSE, Sameer Gehlaut IBH Trust vended shares at Rs268.49 each.
The shares of Indiabulls Housing Finance closed at Rs254.30 all on BSE, down by4.06 per cent from the former close.
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