Rajiv Rattan, founding Chairman of Indiabulls Power has invested Rs 360 crore through a preferential allotment. Apart from equity infusion, Rattan has also bought out the complete shareholding of Sameer Gehlaut and Saurabh Mittal in the holding company, Indiabulls Infrastructure and Power, in a separate transaction. The move comes post the reorganisation within the promoters of Indiabulls Group.
Rajiv Rattan and Saurabh Mittal continue to hold 15 per cent stake in Indiabulls Housing Finance, 18 per cent stake in Indiabulls Securities and a substantial stake in Indiabulls Real Estate valued at about Rs 3,000 crore.
Indiabulls Power was established to capitalize on emerging opportunities in the Indian power sector. It develops and intends to operate and maintain power projects in India.
