Indiabulls Real Estate up 3%, arm to acquire India Land for Rs 685 crore

An under construction high-rise residential tower is pictured behind an old residential building in Mumbai, India, February 8, 2016. The Indian government on Monday forecast annual economic growth to accelerate to 7.6 percent in the fiscal year ending in March 2016 after Asia's third-largest economy grew 7.3 percent in the quarter to end-December. REUTERS/Danish Siddiqui - RTX25Z75

Trade

• Watchlist
• Portfolio
• Message
• Set Alert

 

 

Choose Stock Exchange: BSE LIVE NSE LIVE

26 Aug, 2025 12:21

Volume

Todays L/H

More

×

Share price of Indiabulls Real Estate added nearly 3 percent intraday Wednesday as it has signed an agreement to acquire India Land & Properties for Rs 685 crore.

The company's wholly owned subsidiary Indiabulls Infrastructure has signed a definitive agreement to acquire 100 percent share capital of India Land and Properties (ILPL), for an aggregate consideration of Rs 685 crore, from Indiabulls Distribution Services, which is a wholly owned subsidiary of Indiabulls Ventures.

The deal is expected to be completed in the current financial year and post the completion of the deal ILPL will become 100 percent wholly owned subsidiary of the company.

ILPL owns a commercial complex of 3 towers with total constructed area of 2.67 million square feet and leasable area of 1.94 million square feet, spread over total land of over 8.84 acres at Ambattur Industrial Estate, Chennai.

At 12:23 hrs Indiabulls Real Estate was quoting at Rs 83.75, up Rs 2.20, or 2.70 percent on the BSE.

Posted by Rakesh Patil