Indiabulls Real Estate Ltd updates on subsidiaries

Pursuant to a Share Purchase Agreement, dated December 23, 2022, Indiabulls Real Estate Limited has divested its 100% stake, on a fully diluted basis, in its wholly owned subsidiaries Juventus Estate Limited, and Mabon Properties Limited, which collectively own the land parcel admeasuring 35 acres approx. at Sector 104, Dwarka Expressway, Gurugram, Haryana.

With this, Juventus Estate Limited, Mabon Properties Limited and Milkyway Buildcon Limited (which is a 100% subsidiary of Juventus Estate Limited) ceased to be the subsidiaries of the Company wef December 23, 2022.

The Transaction was at an aggregate enterprise value of Rs. 240 Crores.

Shares of Indiabulls Real Estate Limited was last trading in BSE at Rs. 74.20 as compared to the previous close of Rs. 78.65. The total number of shares traded during the day was 1158380 in over 6345 trades.

The stock hit an intraday high of Rs. 79.40 and intraday low of 73.25. The net turnover during the day was Rs. 88745790.00.

Source : Equity Bulls

Keywords

IndiabullsRealEstate INE069I01010 StakeSale Subsidiaries LandParcel Gurugram Haryana