Indiabulls Housing Falls After Founder Sells to Blackstone
- Sameer Gehlaut and his firms sold 11.9% in lender to investors
- ADIA, Morgan Stanley are among other investors in the company
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Indiabulls Housing Finance Ltd.’s shares slid after founder firms sold about half their stake in the shadow lender to investors led by Blackstone Group Inc. and Abu Dhabi Investment Authority.
The financier’s shares ended down 8.2% in Mumbai Friday, recovering some of its intraday losses when it fell the most since September last year. India’s benchmark index closed 1.5% lower.