Indiabulls Housing's shares fall after its Founder sells 11.9% stake

Indiabulls Housing Finance's shares ended 8.34% lower on Friday after its Founder Sameer Gehlaut sold an 11.9% stake. Gehlaut said he'll step down from the company's board by the end of this financial year. "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," he added.