Bulk Deals: Indiabulls Housing promoter Sameer Gehlaut sells stake, announces resignation

At least half a dozen of private equity and mutual fund firms have picked up a stake in Indiabulls Housing Finance Limited on Thursday through an open market transaction as one of the promoters Sameer Gehlaut under its IBH Trust sold nearly 12 per cent stake in the company. 

In two individual instances, Sameer Gehlaut IBH Trust has sold 1,25,41,432 and 2,98,43,200 equity shares (combine 8 per cent) in the company at Rs 262.82 and Rs 262.35 per share respectively on the NSE, according to the bulk deals data. 

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Abu Dhabi Investment Authority, BREP Asia II Indian Holding Co V (NQ) PTE Ltd, Invesco Mutual Fund -  India Contra Fund, Morgan Stanley Asia (Singapore) PTE. – ODI, Prusik Umbrella Ucits Fund PLC, and Tosca Focus have picked up 58,00,000, 1,04,82,180, 35,10,097, 27,32,476, 29,12,000 and 29,12,000 equity shares respectively in the company at the same price of Rs 262.35 per share. 

While along with Gehulat, Inuus Infrastructure Private Limited also sold 70,28,000 equity shares in the company at Rs 262.35 per share on the NSE, as per the bulk deals data. 

Post selling its 8 per cent equity in Indiabulls Housing earlier during Thursday’s session, Sameer Gehlaut, one of the promoters, to step down from the board of the company by this fiscal end, the company said in its post-market filing to exchanges. 

“I will be resigning from the board of the company by end of the current fiscal ending March 31st, 2022 and will be completing the process of de-promoterisation of the company with requisite approvals,” Gehulat said in his resignation announcement through filing. 

The shares of the company had jumped almost 7 per cent intraday to touch the day’s high level of Rs 279 per share, however, pared gains to close over 4 per cent lower to Rs 253.8 per share on the NSE, as compared to 0.16 per cent rise in the Nifty50 on Thursday. 

Another prominent company Vedanta Limited name also appears in the bulk deals data. Vedanta Holdings Mauritius Ii Limited bought 17,01,16,200 shares (4.6 per cent) from Finsider International Company Limited in the company at Rs 352.7 apiece on the NSE. 

The stock of metal major Vedanta closed nearly 1.5 per cent higher to Rs 385.2 per share on the NSE, and also aided the overall market to end positive on Thursday. 

In a similar pattern, Sejalkumar Pannalal Shah bought 1,02,000 equity shares from Goenka Business & Finance Limited in Kotyark Industries Ltd at Rs 92 per share on the NSE, as per bulk deals data.