Is it true that Samir Gehlaut ha entirely sold out his stake in Indiabulls Finance?

Let me clarify that Sameer Gehlaut has sold out 12% in Indiabulls Housing Finance but will still retain 9.8% in the company. The idea here is to reduce his holdings to below 10% so that he can be de-classified as the promoter of the group. Gehlaut has promoted another digital Fintech company, Dhani Services, which was demerged from Indiabulls. He will continue to hold 9.8% stake in Indiabulls Housing Finance as an investment.

Dhani is a fast growing Fintech play which focuses on building a world-class Fintech and DigiHealth platform in India. Gehlaut had already stepped down from the chairmanship of the Indiabulls group in Aug-20.