In March 2018, Blackstone had acquired a 50 percent stake in IBREL’s commercial properties for Rs 4,750 crore.
The order is the culmination of a probe resulting from a massive income tax raid on Indiabulls in 2016.
The lender has slashed the starting price to Rs 667.9 crore after failing to attract bidders in its first attempt, which had a reserve price of Rs 746 crore
Jitu Virwani, CMD of Embassy Group, shared his views on transferring assets into an REIT. “Once we buy this 28 percent and take over the management that would be the next step. The assets – close to about 2.3 million, I don’t have the exact number.”
The stake sale was undertaken by Indiabulls to focus fully on its financial services as it seeks to merge with Lakshmi Vilas Bank.
Ripple effects of the DHFL-panic were also felt on other companies including non-banking financial company (NBFC) and mortgage lender Indiabulls Housing Finance.
The company has a saleable area of 28.5 million sq ft in these 14 projects and execution of these projects will generate a net surplus of Rs 17,191 crore after meeting the pending construction costs
The large cap fund will have a 'moderately high' risk profile instead of the current 'high' risk profile.
The promoter firm in-total disposed of 4.84 percent stake in Indiabulls Real Estate.
On the volume front, 463.98 lakh shares of the company were traded on BSE and over 8 crore shares changed hands at NSE during the day.
A Delhi court has issued a notice to Indiabulls Real Estate Ltd and its subsidiary firm Athena Infrastructural Ltd, on a criminal complaint seeking the lodging of an FIR against them for allegedly cheating R
Indiabulls Housing Finance, Indiabulls Real Estate, Indiabulls Ventures and Indiabulls Wholesale Services fell 5-10 percent intraday on Wednesday.
Findings reveal Indiabulls and Bharti Infratel are topping the list of operators on Dalal Street with most exposure.
Among the 500 Indians, DLF owner K P Singh and nine members of his family, promoters of Apollo Tyres, Indiabulls' Sameer Gehlaut and Gautam Adani's elder brother Vinod Adani names were there.
L&T is not keen to have the Mall in its books as it is a non-core business of the company and hence it wants to exit it. Sources say L&T has not invited bids for it as of now and is only engaging in talks with Blackstone
British Minister of State for Trade and Investment Francis Maude, in his four-day visit to India, would meet Indian leaders, government officials and business people during the visit to strengthen economic relations between India and the UK.
FMC has asked ICEX to submit a business revival plan within a week or it may be asked to shut shop in case of delay in submitting the plan.
In a conference call, after announcing December quarter results, the management said that nearly 24 percent of the order backlog is now "non-moving"
Sudarshan Sukhani believes the Nifty may correct to 5700 in June and recommends investors to take short positions in Nifty and Bank Nifty
Though a broad consensus was reached on Land Acquisition Bill last week, Ajit Mittal, Director of Indiabulls believes implementation of the act may face hurdles.
Suspected MNS activists today attacked the office of diversified conglomerate Indiabulls in Camp area of the city, second such incident since party chief Raj Thackeray yesterday accused the company of "usurping" water meant for farmers for its power plant in the parched district.
â€œIndiabulls financial services book grew approximately by 30 percent from Rs 25,000 crore same time last year to Rs 32,500 crore,â€ says Gagan Banga, CEO of Indiabulls Financial Services. In an interview to CNBC-TV18, Banga says that the company has managed to beat street expectations by reducing borrowing cost and bringing down cost.
Buying opportunity is seen in HDIL, says Sudarshan Sukhani, s2analytics.com.
Mahindra and Mahindra (M&M) is not a short sell, says Sudarshan Sukhani of s2analytics.com.
Ahead of the parliament's monsoon session, hopes of reforms and stability in global markets led to a formidable rally in the Indian equity benchmarks as the week kicked off. However, as the week progressed, sentiments worsened owing to unenthusiastic numbers from corporate heavyweights.