Indiabulls Real Estate promoter sells shares worth Rs 178 cr

Indiabulls Real Estate promoter group entity IBREL IBL Scheme Trust today sold 77 lakh shares of the company for an estimated over Rs 178 crore through an open market transaction.
This follows sale of 3.3 crore shares of the company for about Rs 663 crore by the Trust last month.
According to the bulk deal data available with the National Stock Exchange (NSE) today, IBREL IBL Scheme Trust offloaded a total of 77 lakh shares of the real estate firm.
The shares were sold on an average price of Rs 231.87, valuing the transaction at Rs 178.53 crore.
However, the buyer(s) of the shares could not be ascertained immediately.

As of June quarter, the Trust held 95 lakh shares in Indiabulls Real Estate.
Shares of the company closed at Rs 226.35 on the BSE, up 0.91 per cent from the previous close.