Jhunjhunwala firm buys Indiabulls Real Estate shares worth nearly Rs 29 cr

Rakesh Jhunjhunwala’s Rare Enterprises on Thursday acquired Indiabulls Real Estate Ltd’s shares worth nearly Rs 29 crore through an open market transaction.

Rare Enterprises bought 50 lakh scrips of the company at an average price of Rs 57.73 apiece, as per NSE’s bulk deal data.

This took the total deal value to Rs 28.86 crore.

As per another transaction, Morgan Stanley Asia (Singapore) Pte-Odi offloaded 75.8 lakh shares of Indiabulls Real Estate at Rs 57.16 per scrip, valuing the deal at Rs 43.32 crore.

Morgan Stanley Asia (Singapore) Pte-Odi is a public shareholder of Indiabulls Real Estate, and held 3.69 per cent stake in the firm, as per the shareholding data for September 2020 quarter.

Shares of Indiabulls Real Estate on Thursday closed 13.77 per cent higher at Rs 54.95 on the NSE.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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