Sameer Gehlaut News Today : Breaking News, Live Updates & Top Stories | Vimarsana

3 cases closed, 20 stalled; officials say probe is open, will act if required.

Mathew Cyriac, known for his successful investments, including the turnaround of Gokaldas Exports, on Thursday purchased 2.5 million shares of Indiabulls Housing Finance at INR2,13.57 each.

Sameer Gehlaut, the founder of Indiabulls Housing Finance, has completely exited the company, according to Gagan Banga, VC & MD of the company. The de-promoterisation process under SEBI guidelines was completed earlier this year, and Gehlaut no longer holds any shareholding in the company. The company is also undergoing a transition process to a new identity, with the new name, Samman Capital, already approved by the Reserve Bank of India. The transition is expected to be completed by the end of the current quarter.

A total of 22.5 lakh shares of the company exchanged hands in a large transaction worth Rs 40.8 crore.

Chief executive Gagan Banga said with the repayment on Thursday, the company has repaid all of its $3 billion foreign currency borrowings availed of in the last few years and will now shift focus to growing its assets under management (AUM).