According to stock market data, Merrill Lynch Markets Singapore Pte Ltd has sold 7,597,785 shares at the rate of Rs 1,292.50 apiece amounting to a traction value of Rs 982.01 crore.
Through this transaction, Merrill Lynch sold 1.78 per cent stake in Indiabulls Housing Finance Ltd. According to BSE data, at the end of December, Merrill Lynch held 2.85 per cent stake in the housing finance firm.
The shares were bought by Treetop Convertible SICAV-Treetop Convertible International, the data showed.
On Tuesday, Indiabulls Housing Finance shares ended at Rs 1,292.55, 3.87 per cent up from the previous close.
Last week, Merrill Lynch Markets Singapore Pte. sold 73,126,423 shares of Bank Of Baroda at Rs 141.95 on the BSE.
Delhi-based Indiabulls Housing Finance Limited claims to be the country’s second largest housing finance company and is regulated by the National Housing Bank. According to the company’s website, it has serviced more than 9.20 lakh customers and have cumulatively disbursed home loans of over Rs 1.67 lakh crore as of the last financial year.
It has over 220 branches in 110 towns and cities across India and two representative offices in Dubai and London.