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The Sameer Gehlaut IBH Trust and promoter group members Sameer Gehlaut and lnuus lnfrastructure Private Ltd reduced their stake in Indiabulls Housing Finance Ltd (IHFL) to 7.55 per cent from 9.77 per cent, through sale of share on May 9-10.
The trust’s shareholding in IHFL declined to 1.52 per cent from 3.62 per cent, according to a regulatory filing. This shareholding is with respect to total share or voting capital, wherever applicable.
Also read:Massive restructuring. Indiabulls Housing working on a new identity
Shareholding of Sameer Gehlaut and lnuus lnfrastructure Private Ltd declined to 6.03 per cent from 6.15 per cent, according to the filing.
As per IHFL’s FY22 annual report: “In December 2021, as a further step towards institutionalising the company, Mr Gehlaut reduced his stake in the company, which was bought by marquee global institutions such as Blackstone, ADIA and others.
“Post this, in March 2022, Mr Gehlaut stepped down from the board of the company and submitted request for de-promoterisation of himself and other promoter group companies. The de-promoterisation has been approved by the board, the shareholders, as well as the lead lender of our working capital lender consortium.”
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