Infrastructure Development Finance Company Ltd managing director and chief executive officer Rajiv B Lall has sold 4.50 lakh (450,000) shares of the company for over Rs 6.3 crore (Rs 63 million) in an open market transaction.
Lall sold 4.50 lakh equity shares on the National Stock Exchange through the broking firm -- Citismith Barney -- at Rs 140.01 per share, Infrastructure Development Finance Company has said in a filing with the Bombay Stock Exchange.
IDFC provides debt and equity finance primarily to four infrastructure sectors -- energy, transportation, telecom and information technology (IT), and commercial and industrial.
Prior to the latest sale, the CEO held 1,136,656 equity shares of the company, it said.
The company informed the stock exchanges about the sale of the equity shares on July 6. The CEO now owns 6,86,656 equity shares of Infrastructure Development Finance Company after the open market sale.