The script peaked at Rs 236.50 compared to the previous close of Rs 226.55 on BSE.
According to bulk trading data available from the National Stock Exchange, Societe Generale relieved 27.40 lakh shares
while BNP Paribas Arbitrage sold 23.59 lakh shares in the domestic housing finance company.
The shares were sold in the range of Rs 221.34-221.75 pieces per share, the data showed. In September 2021, Societe Generale owned 58.77 lakh shares, corresponding to a shareholding of 1.27 percent in Indiabulls Housing, while BNP Paribas Arbitrage shareholding was 71.82 lakh shares or 1.56 percent.
Reports said Wednesday that the company was required to de-promote where the organizer – led by Sameer Gehlaut – is likely to reduce a stake of less than 10 percent from the current quantity of 21.69 percent.
Indiabulls Housing may be considering secondary market transactions, such as through qualified institutional placement or an offer-to-sell, in its efforts to reduce the promoter’s share, reports said.
The national stock exchange had on Thursday excluded Indiabulls from trading in the futures and options segment as the derivatives contract for its securities had breached 95 per cent of the market-wide position limit.