Sameer Gehlaut, the promoter of Indiabulls Housing Finance (IHFL), has sold 11.9 per cent in the company in numerous block deals on Thursday to over 10 entities. The combined value of the transactions is estimated at around Rs 1,450 crore, and the average price is around Rs 264 a share. He will also be stepping down from the board by the end of the current financial year (2021-22, or FY22) and will complete the de-promoterisation of the company with requisite approvals.
After Thursday’s transactions, Gehlaut still holds 9.8 per cent in the company and he intends to hold this stake to