Indiabulls Real Estate soars on selling 50% stake in two office assets for Rs 464 crore

21 Dec 2018

Indiabulls Real Estate is currently trading at Rs. 93.80, up by 1.95 points or 2.12% from its previous closing of Rs. 91.85 on the BSE.

The scrip opened at Rs. 94.40 and has touched a high and low of Rs. 95.50 and Rs. 93.25 respectively. So far 268203 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 263.65 on 12-Jan-2018 and a 52 week low of Rs. 68.65 on 11-Dec-2018.

Last one week high and low of the scrip stood at Rs. 95.50 and Rs. 82.45 respectively. The current market cap of the company is Rs. 4234.14 crore.

The promoters holding in the company stood at 38.90%, while Institutions and Non-Institutions held 25.38% and 35.72% respectively.

Indiabulls Real Estate has sold 50% stake in two office assets in Gurugram to global private equity firm Blackstone at an enterprise value of Rs 464 crore. In November, the company had signed a non-binding term sheet to divest its 50% stake in two office assets having nearly 8 lakh sq ft leasable area.

Indiabulls Real Estate is India's third largest real estate company, with its focus on construction and development of residential, commercial and SEZ projects across major Indian metros.

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