Indiabulls Real Estate’s promoters are reportedly planning to sell 14% of the fully paid-up capital to third-party investors, a move that has been planned to ensure focus on the financial services business in the long run. The company is seeking to exit the business ahead of the proposed merger of Indiabulls Housing Finance with Lakshmi Vilas Bank.
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.
