Corporate News 06-Jul-18
IndiaBulls Real Estate to divest stake in commercial assets in Chennai
For Rs 850 Cr.
The Board of IndiaBulls Real Estate has authorized execution of transaction documents with the entities controlled by Blackstone Group L.P., a renowned private investor, thru which the company will divest 100% stake in sale of commercial assets at Ambattur, Chennai with a realized value of Rs 850 Cr. The transaction is to be completed in tranches by 30 September 2019 subject to re-organization of Company's commercial business leased in India for achieving growth in markets.
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