Merrill Lynch sells 2% stake in Indiabulls Housing Finance for Rs 9.82 bn

Merrill Lynch on Tuesday sold nearly 2 per cent stake in Indiabulls Housing Finance for Rs 9.82 billion through an open market transaction.

According to the bulk deal data available with BSE, Merrill Lynch Markets Singapore Pte Ltd offloaded 7.59 million shares or 1.78 per cent stake in Indiabulls Housing Finance Ltd.

The shares were disposed of at an average price of Rs 1,292.5, valuing the transaction at Rs 9.82 billion, the data showed.

The shares were bought by Treetop Convertible SICAV - Treetop Convertible International.

Indiabulls Housing Finance stock ended the day on BSE at Rs 1,292.55, 3.87 per cent from the previous close.


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