Rakesh Jhunjhunwala acquired 1 crore shares or a 2.17 per cent stake in Indiabulls Housing Finance firm in the April-June quarter of FY22. Jhunjhunwala did not hold any stake in this housing finance firm in the March 2021 quarter. This comes after the ace investor raised stakes in companies such as Federal Bank, SAIL, Edelweiss Financial Services in the quarter of the current fiscal. Mutual funds also raised stake to 2.95 per cent or 1.36 crore shares from 2.81 per cent or 1.29 crore shares at the end of June quarter. Similarly, Foreign Portfolio Investors (FPIs) raised in Indiabulls Housing Finance to 33.63 or 15.53 crore shares from 33.61 per cent or 15.51 crore shares.
During the first quarter of the current fiscal, Blackrock Funds bought an additional stake in Indiabulls Housing Finance, taking the total stake to 3.54 per cent or over 25 lakh shares. In the previous quarter, the stake stood at 2.55 per cent. Blackrock Global Funds Emerging Markets Fund held 1.10 per cent stake, Blackrock Emerging Frontiers Master Fund 1.15 per cent and Blackrock Strategic Funds – Blackrock Emerging Markets 1.29 per cent in Indiabulls Housing Finance, as of June 2021. The promoter stake stod at 21.69 per cent, as against 21.70 per cent in the March 2021 quarter.
On BSE, Indiabulls Housing Finance shares surged nearly 5 per cent to Rs 278.80 apiece in intraday deals. The stock had hit a 52-week high of Rs 313.50 in the mid of the previous month. During the first quarter of the current fiscal, Rakesh Jhunjhunwala, the big bull of domestic stock markets, has trimmed his stake in Tata Motors, Titan Company and Autoline Industries.
Last month, Indiabulls Housing Finance said its board of directors has approved a proposal to raise over Rs 7,000 crore through various financial instruments. This includes about Rs 2,043 crore by issuing equity shares or other instruments, the company said in a statement. The plan will also include issuance of unsecured or secured, listed or unlisted, redeemable non-convertible debentures with or without warrants or any other similar security denominated in Indian rupees in one or more tranches for Rs 5,000 crore (equivalent currency) on private placement basis or otherwise.
Eqwires Research Analyst
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