Foreign funds raise stake in Indiabulls Real Estate to 5 pc
Indiabulls Real Estate Ltd on Monday said foreign funds Copthall Mauritius Investments Ltd and Dauphine Mauritius Investment Ltd have increased their stake in the real estate developer to 5 per cent.
By PTI |
MUMBAI: Construction firm Indiabulls Real Estate Ltd on Monday said foreign funds Copthall Mauritius Investments Ltd and Dauphine Mauritius Investment Ltd have increased their stake in the real estate developer to 5 per cent through an open market transaction.
The foreign-based fund houses acquired 6.50 lakh equity shares of the firm engaged in projects like residential housing, commercial offices, hotels, malls and Special Economic Zone (SEZ) infrastructure development, Indiabulls Real Estate said in a filing to the Bombay Stock Exchange.
Copthall Mauritius Investments Ltd and Dauphine Mauritius Investment Ltd bought 6,50,000 equity shares, representing 0.16 per cent of the total paid-up equity capital of the company on May 27 from the open market, it said.
Though the financial details of the transaction were not available, the fund houses could have paid over Rs 9.97 crore for acquired the stake at the prevailing price of Rs 150.65 per share on that day.
Prior to this latest acquisition, the fund houses together held a stake of over 4.84 per cent in Indiabulls Real Estate, it added.
Shares of the company closed at Rs 157.70, up 0.77 per cent from the previous close on the BSE.
The foreign-based fund houses acquired 6.50 lakh equity shares of the firm engaged in projects like residential housing, commercial offices, hotels, malls and Special Economic Zone (SEZ) infrastructure development, Indiabulls Real Estate said in a filing to the Bombay Stock Exchange.
Copthall Mauritius Investments Ltd and Dauphine Mauritius Investment Ltd bought 6,50,000 equity shares, representing 0.16 per cent of the total paid-up equity capital of the company on May 27 from the open market, it said.
Though the financial details of the transaction were not available, the fund houses could have paid over Rs 9.97 crore for acquired the stake at the prevailing price of Rs 150.65 per share on that day.
Prior to this latest acquisition, the fund houses together held a stake of over 4.84 per cent in Indiabulls Real Estate, it added.
Shares of the company closed at Rs 157.70, up 0.77 per cent from the previous close on the BSE.
Too busy to trade in stocks? Invest in Mutual Funds with ET Money!
Bookmark or read stories offline -
Download ET Markets APP
Download ET Markets APP
ADVERTISEMENT
