Indiabulls Enterprises share price: Penny stock dips after THIS realtor’s profit-booking move
- Indiabulls Enterprises share price has remained flat in the past one month and the stock has gained by just over 1.7% year-to-date (YTD). Over the past three months, the penny stock has risen 6.7%, while it is up over 9% in six months.
Indiabulls Enterprises share price declined on Thursday after a major shareholder sold a significant stake in the company. The small-cap penny stock fell as much as 1.38% to ₹20.70 apiece on the BSE.
Zwina Infrastructure has sold 1.5 crore equity shares of Indiabulls Enterprises, representing 7.56% stake in the company.
In a stock exchange filing, Zwina Infrastructure announced about the decrease in its shareholding in Indiabulls Enterprises, pursuant to the sale of an aggregate 1,50,00,000 fully paid-up equity shares of the company on February 3, 2025.
Zwina Infrastructure is a promoter group entity of Indiabulls Enterprises, and held 5,67,25,150 equity shares, aggregating to 28.60% stake in the company as of December 2024, the shareholding pattern showed.
On January 3, Zwina Infrastructure sold 1.5 crore Indiabulls Enterprises shares, translating into 7.56% shareholding in the company, through an off-market deal.
After the share sale, Zwina Infrastructure’s shareholding in Indiabulls Enterprises has dropped to 21.04%, with 4,17,25,150 equity shares.
Last month, Indiabulls Enterprises informed that the company, through its wholly owned subsidiary company, executed Memorandum of Understanding, with certain land owners, to develop a real estate project.
As per the project details, the location was Ludhiana, Punjab and the project land was 24.5 acres. The project type was a Group Housing or Commercial project with a saleable area of approx. 43.20 lacs sq. ft. The company expects revenues of ₹3,500 crore from the project in coming years.
Indiabulls Enterprises Stock Price Trend
Indiabulls Enterprises share price has remained flat in the past one month and the stock has gained by just over 1.7% year-to-date (YTD). Over the past three months, the penny stock has risen 6.7%, while it is up over 9% in six months.
At 11:05 AM, Indiabulls Enterprises shares were trading 0.95% lower at ₹20.79 apiece on the BSE.
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