Gehlaut Trust, promoter group members cut stake in Indiabulls Housing Finance to 7.55%

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Sameer Jahlot IBH Trust and promoter group members Samir Jahlot and lnuus lnfrastructure Private Ltd have reduced their stake in Indiabulls Housing Finance Ltd (IHFL) to 7.55 per cent from 9.77 per cent, through stake sale on May 9-10.

The fund’s contribution to the IHFL fell to 1.52 percent from 3.62 percent, according to a regulatory filing. This contribution relates to total shares or voting capital, where applicable.

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Samir Jahlot and Knowlos Infrastructure Private Limited each fell to 6.03 percent from 6.15 percent, according to the filing.

According to the IHFL’s Annual Report for Fiscal Year 22: “In December 2021, As another step towards the institutionalization of the companyMr. Jahlout reduced his stake in the company, which was bought by prominent global institutions such as Blackstone, Abu Dhabi Investment Authority and others.

“Subsequently, in March 2022, Mr. Gehlaut resigned from the Company’s Board of Directors and filed an application to de-promoting himself and the other promoter group companies. The de-promoting was approved by the Board of Directors, shareholders as well as the lead lender of our Working Capital Lender Consortium.”