Indiabulls Real Estate promoter sells shares worth Rs 542 crore

Realty major Indiabulls Real Estate's promoter firm Kritikka Infrastructure sold 2.3 crore shares of the company for over 542 crore through open market transactions on Monday. The promoter offloaded 1.45 crore shares, or 3.05 % stake, of the realty firm. The shares were disposed of at an average price of Rs 236.26 per share, valuing the transactions at Rs 342.57 crore. Kritikka Infrastructure sold another 85 lakh shares, amounting to 1.79 per cent stake in the realty firm on BSE for an estimated Rs 199.94 crore. The shares were sold at an average rate of Rs 235.23 apiece. The promoter firm in-total disposed of 4.84 per cent stake in Indiabulls Real Estate.