In furtherance to intimation dated December 20, 2018, Indiabulls Real Estate has informed that with the completion of closing conditions on December 31, 2018, the company has divested up to 50% stake in two office assets in Udyog Vihar, Gurugram (aggregating 784,000 sq ft leasable office space) at an aggregate enterprise value of approximately Rs 464 Crores to the entities controlled by The Blackstone Group L.P., which is a globally renowned real estate private equity investor. With this, company’s existing wholly owned subsidiaries Ashkit Properties and Yashita Buildcon have become JVs.
The above information is a part of company’s filings submitted to BSE.
