BNP Paribas, Societe Generale Reduce Stake In Indiabulls Housing

bnp paribas societe generale reduce stake in indiabulls housing

Sumary of BNP Paribas, Societe Generale Reduce Stake In Indiabulls Housing:

  • Societe Generale and BNP Paribas Arbitrage on Thursday offloaded about 51 lakh shares of private lender Indiabulls Housing Finance for approx Rs 113 crore via open-market transactions.
  • As per bulk data available with the National Stock Exchange (NSE), Societe Generale sold 27.40 lakh shares of the private lender whereas BNP Paribas Arbitrage divested 23.59 lakh shares.
  • BNP Paribas Arbitrage held 71.82 lakh shares or a 1.56 per cent stake in the private lender.
  • Business news channel, ET Now reported on Wednesday that the company remains committed to de-promoterising.
  • The Sameer Gehlaut led promoter was likely to cut the stake to below 10 per cent from the current 21.69 per cent.
  • The report added that the company may be looking at secondary market transactions like qualified institutional placement (QIP) and offer for sale in its bid to de-promoterise.

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