New Delhi: Credit Suisse (Singapore) Ltd has sold nearly 10 million shares, equivalent to 2.36% stake, in Housing Development and Infrastructure Ltd (HDIL) through open market transactions.
In a filing to the BSE, HDIL said Credit Suisse Singapore has sold 3,015,356 shares in the Mumbai-based firm between 23 November 2012 and 23 January 2013. It further sold 6,911,723 shares in HDIL on 24 January, the filing added.
Credit Suisse (Singapore) has sold a total of 9,927,079 shares in HDIL. After these transactions, its stake in HDIL has reduced to 2.67% from 5.04% as on 22 November, 2012.
HDIL share prices on Tuesday declined by nearly 4% at Rs.80.40 on the BSE.
On 22 January, HDIL promoter and vice chairman Sarang Wadhawan has sold five million shares for about Rs.57 crore through stock market. Post this transaction, the stake of Wadhawan has come down to 0.99% from 2.19 %. This development had led to HDIL share price falling by 14% on 23 January and 22% on 24 January. Promoters held 37.36% stake in HDIL as on 31 December 2012.