1.78% stake in Indiabulls Housing Finance divested by Merrill Lynch for Rs.982.01 crore

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On 3 April 2018, Merrill Lynch Markets Singapore Pte Ltd sold 1.78% stake in Indiabulls Housing Finance Ltd via an open market transaction as per the Bombay Stock Exchange (BSE) data. The average price at which the shares were sold to TreeTop Convertible SICAV – Treetop Convertible International was Rs.1,292.55. Thus, ringing the transaction value to Rs.982.01 crore at 75.98 lakh shares sold. On Tuesday, Indiabulls Housing Finance stock closed at Rs.1,292.55 on BSE which is 3.87% up from the previous closing price.

The global financial services company, Merrill Lynch, at the end of December 2017, held 2.85% stake in Indiabulls Housing Finance Ltd, the housing finance firm which is based in Delhi. In the previous week, Merrill Lynch had divested 73,126,423 shares of Bank of Baroda, each share priced at Rs.141.95 on the stock market (BSE).

Merrill Lynch

About Indiabulls Housing Finance Ltd

Indiabulls Housing Finance Ltd is considered to be the second largest housing finance firm in India. It is regulated by the National Housing Bank and has 2 branch offices in London and Dubai. The housing finance firm has a customer base of more than 9.20 lakh, served from 220 branch offices in 110 cities across the country. According to the company’s official website, as of last financial year, the lender has disbursed home loans of over Rs.1.67 lakh.

About TreeTop Convertible SICAV – TreeTop Convertible International

It is a fixed income mutual fund that is managed by TreeTop Asset Management. The fund was formed on 31 March 1988. It invests in public fixed income markets across the world. TreeTop Asset Management was established in 2005. It is a reputable asset management company consisting of a team of experienced fund managers and investment experts. The company was co-founded by Jacques Berghmans, an experienced fund manager who had worked for 20 years at Merrill Lynch from 1981.

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