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    HomeNewsBusinessStocksIndiabulls Sec soars 12%, arm buys India Land & Properties

    Indiabulls Sec soars 12%, arm buys India Land & Properties

    India Land and Properties owns a commercial complex of 3 towers with a total constructed area of 2.4 million square feet and leasable area of 2 million square feet. The total land area of the complex is over 10 acres.

    November 20, 2014 / 13:17 IST

    Moneycontrol Bureau

    Shares of Indiabulls Securities soared 12 percent intraday on Thursday after its arm made an acquisition. The company’s subsidiary Indiabulls Distribution Services has acquired 100 percent of the share capital of India Land and Properties Private for a consideration of Rs 600 crore.

    India Land and Properties owns a commercial complex of 3 towers with a total constructed area of 2.4 million square feet and leasable area of 2 million square feet. The total land area of the complex is over 10 acres. Currently a portion of the towers are leased to RBS, Kone, Britannia Industries, Ajuba, Covenant, Telebuy, IBoxand others.

    The building complex is renamed as One Indiabulls Park, Chennai.

    At 13:06 hrs Indiabulls Securities was quoting at Rs 27.35, up Rs 2.35, or 9.40 percent on the BSE.

    Posted by Nasrin Sultana
    first published: Nov 20, 2014 01:17 pm

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