Promoters of Indiabulls Real Estate sells shares worth Rs. 178 crore

The promoter group entity of Indiabulls Real Estate, IBREL IBL Scheme Trust, today sold 77 lakh shares of the company for an estimated over Rs. 178 crore through open market transaction. Earlier last month, the Trust sold 3.3 crore shares of the company for about Rs. 663 crore. 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 Indiabulls Real Estate. The shares were sold on an average price of Rs 231.87, valuing the transaction at Rs 178.53 crore. As of June quarter, the Trust held 95 lakh shares in Indiabulls Real Estate.