Sarang Wadhawan, vice chairman and managing director of Housing Development & Infrastructure Ltd on Wednesday sold additional 50 lakh shares of the company, representing 1.19% stake, the company
informed Bombay Stock Exchange on Thursday.
Wadhawan raised over 42 crore through this open market transaction on Wednesday when the stock had closed at Rs82.40, down 5.7% from Tuesday's close. Earlier this month, Wadhawan had sold 26 lakh shares of the company, representing 0.62% stake. After selling 1.19% stake on Wednesday, Wadhawan's stake in the realty developer now stands at 2.19%.
Sarang Wadhawan remained unavailable for any comment for the story.
Promoters of HDIL have already pledged 16.02 crore shares of the company, representing 38.24% stake or almost entire shareholding of theirs in favor of little known SARA Trust through its trustees IL&FS Trust Company.
As on December 31, Wadhawan, who is part of the promoter group of HDIL, held 4% stake in the Mumbai-based company, while the total promoter holding stood at 39.17%.
....more info
informed Bombay Stock Exchange on Thursday.
Wadhawan raised over 42 crore through this open market transaction on Wednesday when the stock had closed at Rs82.40, down 5.7% from Tuesday's close. Earlier this month, Wadhawan had sold 26 lakh shares of the company, representing 0.62% stake. After selling 1.19% stake on Wednesday, Wadhawan's stake in the realty developer now stands at 2.19%.
Sarang Wadhawan remained unavailable for any comment for the story.
Promoters of HDIL have already pledged 16.02 crore shares of the company, representing 38.24% stake or almost entire shareholding of theirs in favor of little known SARA Trust through its trustees IL&FS Trust Company.
As on December 31, Wadhawan, who is part of the promoter group of HDIL, held 4% stake in the Mumbai-based company, while the total promoter holding stood at 39.17%.
....more info