Sameer Gehlaut to sell 11.9% stake in Indiabulls Housing Finance via block deal

Sameer Gehlaut, founder and non-executive director of Indiabulls Group (Image: Indiabulls Foundation)

Sameer Gehlaut, the founder of mortgage financier Indiabulls Housing Finance, will sell an 11.9 percent stake in the company via a block window deal, CNBC TV 18 reported on December 15.

The deal to offload his stake is likely to be in the range of Rs 262.35-Rs 267.60 per share, sources told the news channel, adding that the entire deal is pegged at over Rs 1,400 crore.

Investment banking group Jefferies will be the sole broker to deal as per the terms obtained, the report added.

Sources to @CNBC_Awaaz

Indiabulls Housing Finance founder Sameer Ghelaut to sell 11.9% stake in co via block window deal

Deal likely in Rs 262.35-267.60 per share range

Related stories

• 
  Wakefit secures Rs 56 crore pre-IPO, valued at over Rs 6,400 crore
• 
  Genesys International Q2 net profit rises 7% to Rs 12 crore
• 
  Sky Gold Q2 profit jumps over 82% to Rs 67 crore

Deal size pegged over Rs 1400 crores

Jefferies sole broker to deal as per terms obtained pic.twitter.com/Z2S2hf4TGG

— Yatin Mota (@YatinMota) December 15, 2021

The lender registered a profit of Rs 286 crore in the July-September quarter, whereas, its profit stood at Rs 323 crore in the same period last year.

ALSO READ: Sameer Gehlaut resigns as non-executive chairman of Indiabulls Real Estate

Gehlaut, who is serving as the non-executive director of Indiabulls Group, had on October 14 resigned as the non-executive chairman of one of the group's key units - Indiabulls Real Estate.

The company had claimed that he has resigned from the post as he would focus on the business of providing technology-enabled transaction finance and primary healthcare services by Dhani Services Limited. Notably, Gehlaut is the founder, promoter, chairman and CEO of Dhani Services.