Merrill Lynch sells stake in Indiabulls Housing Finance for $151m

A worker washes windows high atop the Merrill Lynch building in downtown San Diego, California September 1, 2015. REUTERS/Mike Blake

Global financial services giant Merrill Lynch has divested 1.8 per cent stake in Indiabulls Housing Finance for Rs 982 crore ($151 million) through an open market transaction.

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.

Also Read:

India: Merrill Lynch sells part of its stake in Bharti Airtel for $302m

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Following vacancies can be applied for (only in Singapore).   

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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.