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In August 2020, Bengaluru-based realty firm Embassy Group entered into a definitive agreement to merge its certain residential and commercial projects with IBREL through a cashless scheme of amalgamation.
The Mumbai-based firm had launched its QIP (Qualified Institutional Placement) issue on March 7 and closed it on April 12.
The merger is expected to create one of the leading market players among listed companies in the real estate sector in terms of surplus from launched projects, land bank ownership and residential stock and planned area development in India.
The consolidation-led evolution would lead to the emergence of well-governed, adequately capitalised, corporate developers who have a multi-city presence.
Indiabulls Real Estate Ltd (IBREL) will raise Rs 300 crore through private placement of non-convertible debentures.
"We estimate that IBREL made collections of over Rs 7 billion in the quarter ended December 2015, which was nearly double the amount it achieved in the quarter ended September 2015," Moody's Vice President and Senior Credit Officer Vikas Halan said
Indiabulls Real Estate Ltd (IBREL) has trimmed its net debt by about Rs 550 crore in the first nine months of this fiscal, while the company achieved a sales bookings of Rs 733 crore in the quarter ended December.
The company had posted a consolidated net profit of Rs 41.67 crore in the same period of previous fiscal, IBREL said in a filing to the BSE.
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Motilal Oswal is bullish on Indiabulls Real Estate (IBREL) and has recommended buy rating on the stock with a target of Rs 190 in its July 25, 2011 research report.
Motilal Oswal is bullish on Indiabulls Real Estate (IBREL) and has recommended buy rating on the stock with a target of Rs 192 in its January 18, 2011 research report.
Devang Mehta, Vice President & Head (Equity Sales) of Anand Rathi Financial Services
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