Indiabulls Real Estate announces sale of shares by trust

IBREL IBL Scheme Trust, of which Indiabulls Real Estate Limited (the Company) is the sole beneficiary, has sold 3.3 Cr shares of the Company, on 22nd June 2017 at the stock exchanges, and has realised approx. Rs 662.83 Crs at an average price of about Rs 200.85 per share. The sale proceeds would be used for meeting Company's funding requirements for its ongoing businesses and general corporate purposes or any other purposes as may be approved by its Board.

Shares of INDIABULLS REAL ESTATE LTD. was last trading in BSE at Rs.191.8 as compared to the previous close of Rs. 212.55. The total number of shares traded during the day was 46398071 in over 77815 trades.

The stock hit an intraday high of Rs. 213.9 and intraday low of 173.15. The net turnover during the day was Rs. 9244707325.

Source : Equity Bulls

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