New Delhi, Nov 12 (PTI) Rakesh Jhunjhunwala's Rare Enterprises on Thursday acquired Indiabulls Real Estate Ltd's shares worth nearly Rs 29 crore through an open market transaction.

Rare Enterprises bought 50 lakh scrips of the company at an average price of Rs 57.73 apiece, as per NSE's bulk deal data.

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This took the total deal value to Rs 28.86 crore.

As per another transaction, Morgan Stanley Asia (Singapore) Pte-Odi offloaded 75.8 lakh shares of Indiabulls Real Estate at Rs 57.16 per scrip, valuing the deal at Rs 43.32 crore.

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Morgan Stanley Asia (Singapore) Pte-Odi is a public shareholder of Indiabulls Real Estate, and held 3.69 per cent stake in the firm, as per the shareholding data for September 2020 quarter.

Shares of Indiabulls Real Estate on Thursday closed 13.77 per cent higher at Rs 54.95 on the NSE.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)