Advertisement

Business

Updated on: Thursday, December 16, 2021, 10:20 PM IST

Indiabulls Housing Finance's founder Sameer Gehlaut to resign by March 2022

Sameer Gehlaut sold about 11.9 per cent of his nearly 22 per cent stake in the company to various funds./ Representative Image |

Sameer Gehlaut sold about 11.9 per cent of his nearly 22 per cent stake in the company to various funds./ Representative Image |

Advertisement

Founder of Indiabulls Housing Finance Ltd Sameer Gehlaut on Thursday announced that he will resign from the company's board by March 3, 2022. "I am very grateful to all the stakeholders of Indiabulls Housing for this wonderful journey that started 21 years ago in a small 300 sqft office," he wrote in an email to the board of directors, Bloomberg Quint reported.

"I am very focused on building a world-class fintech and digihealth platform," he added. Gehlaut sold about 11.9 per cent of his nearly 22 per cent stake in the company on Thursday to various funds.

He added that he sold his stakes "with a view to make the company fully professionally managed. With this sale, I and my promoter companies now own 9.8% of the company. I intend to hold these shares and participate in the future growth story of the company," according to media reports.

(To receive our E-paper on whatsapp daily, please click here. We permit sharing of the paper's PDF on WhatsApp and other social media platforms.)

Published on: Thursday, December 16, 2021, 10:20 PM IST
Advertisement