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Indiabulls real estate business sale unlikely to improve its chances of getting a banking license

The market prices of Lakshmi Vilas Bank and Indiabulls Housing Finance do not suggest a merger is likely to happen anytime soon

August 07, 2019 / 09:52 AM IST
Indiabulls real estate business sale unlikely to improve its chances of getting a banking license

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Shishir Asthana   By selling its real estate business to the Blackstone Group, Sameer Gehlaut led Indiabulls Group is preparing itself to be a financial services powerhouse with a bank as a cherry on top, provided the RBI approves. Reports say the Blackstone Group is buying the residual 50 percent stake in Indiabulls Real Estate’s commercial properties for about Rs 4,800 crore. Blackstone had bought a 50 percent stake in two units early last year. With the completion of the current sale,...

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