NBFC stock which is engaged in providing affordable home loans and many more jumped 3 percent in the day’s trade after the former co-head of Blackstone India bought an additional stake in it.
At 11:52 a.m the shares of Indiabulls Housing Finance Limited were trading at Rs. 218.85, up 2.53 percent from its previous day’s close price of Rs. 213.45 and its market capitalization is Rs. 10,755 Crores.
As per sources, the former co-head of private firm Blackstone India, Mathew Cyriac has picked up an additional 24.99 lakh equity shares or 0.52 percent of paid-up equity in Indiabulls Housing Finance Limited at an average price of Rs 213.57 per share. As of September 2023 data Mathew Cyriac previously held a 1 percent stake consisting of 48,11,019 equity shares in the company.
Indiabulls Housing Finance Ltd (IBHFL) offers quick, convenient, and competitively priced home loans in the affordable housing segment, it also offers loans to small businesses and MSMEs against their property and many more.
It has a wide network with 200 offices across India and a Representative Office in Dubai offering services to NRIs/PIOs, Manpower 5,373, employees 4603, 151 branches, and 8,000+ channel partners.
It has ongoing business relationships with banks / mutual fund institutions like Axis Bank, ICICI Bank, IDFC Bank, State Bank of India, Deutsche Bank, HDFC Bank, and many more.
The company’s revenue from operations declined 2.94 percent from Rs. 8,983.31 Crores in FY22 to Rs. 8,719.28 Crores in FY23, accompanied by profits of Rs. 1,177.74 Crores to Rs. 1,129.69 Crores.
Written by: Bharath K.S
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