MUMBAI: IL&FS Private Equity Trust has sold four million shares of IBN18, a Network18 Group company, for Rs 410 million.

IL&FS offloaded the IBN18 shares in the open market at Rs 100.25 per share. IBN18 houses news channels CNN IBN, IBN7 and IBN Lokmat.

IL&FS sold to Talma Chemical Industries and Indea Long Term Opportunities Master Fund in two bulk deals. There were other buyers as well which did not get reflected in bulk deals.

Talma Chemical Industries purchased 1.7 million IBN18 shares, paying out around Rs 170.42 million. Indea Long Term Opportunities Mssaster Fund, on the other hand, picked up 1 million shares for around Rs 100.25 million.

Shares of IBN18 closed Tuesday at Rs 114.95 on the BSE, up 14.95 per cent over the previous close.