Indiabulls Ventures’ (IVL) wholly owned subsidiary - Indiabulls Distribution Services (IDSL) has signed a definitive agreement to sell its 100% shareholding in India Land and Properties (ILPL), at a consideration of Rs 685 crore, to Indiabulls Infrastructure (IIL), a wholly owned subsidiary of Indiabulls Real Estate Limited. The deal is expected to be completed in the current financial year.
ILPL owns a commercial complex of 3 towers with total constructed area of 2.67 million square feet and leasable area of 1.94 million square feet, spread over total land of over 8.84 acres at Ambattur Industrial Estate, Chennai. Some of the lessees of these towers are RBS, Yes Bank, Kone, Ajuba, Covenant, MSC service centre, HGS, Access Healthcare etc. The said complex has been designed in compliance to the National Building Codes by internationally acclaimed ZAHA HADID, UK, ‘Laureate Pritzker’ Prize Winner (2004) and it’s a GOLD rated GREEN Building.
Indiabulls Ventures acts as a stock and share broker on the National Stock Exchange of India (NSE), BSE, depository participants and other related services. The company’s primary businesses include Broking and Related activities, and Lease Rental activities.
| Company Name | CMP |
|---|---|
| Motilal Oswal Fin | 825.35 |
| Angel One | 321.20 |
| IIFL Capital Service | 307.00 |
| Nuvama Wealth | 1384.00 |
| Share India Sec. | 144.65 |
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