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Indiabulls Real Estate surges on buying entire stake of FIM in 7 projects for Rs 1,172.16 crore

19 Aug 2013

Indiabulls Real Estate is currently trading at Rs 57.70, up by 0.65 points or 1.14% from its previous closing of Rs 57.05 on the BSE.

The scrip opened at Rs 57.70 and has touched a high and low of Rs 58.00 and Rs 55.50 respectively. So far 187747 shares were traded on the counter.

The BSE group 'A' stock of face value Rs 2 has touched a 52 week high of Rs 87.30 on 17-May-2013 and a 52 week low of Rs 41.75 on 04-Sep-2012.

Last one week high and low of the scrip stood at Rs 64.65 and Rs 56.00 respectively. The current market cap of the company is Rs 2418.98 crore.

The promoters holding in the company stood at 45.99% while Institutions and Non-Institutions held 28.65% and 25.21% respectively.

Indiabulls Real Estate has purchased the entire stake of FIM and its affiliates managed by Farallon Capital Management LLC and its affiliates, a leading US private equity fund, in its 7 project subsidiaries for a total consideration of Rs 1,172.16 crore. FIM held 49% equity stake in these JVs and had invested Rs 847.48 crore in 2006 to 2008. With the purchase of FIM’s entire stake, these project subsidiaries will now be 100% owned by Indiabulls Real Estate.

Indiabulls Real Estate is country’s third largest property company. It has various development projects in the residential, commercial, hotels, malls, and Special Economic Zone (SEZ) segments. The company’s projects portfolio includes high-end office and commercial spaces, premium residential developments, integrated townships, luxury resorts and SEZs.

Related Indiabulls Real Estate Ltd. Links:

Indiabulls Real Est. Share Price

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Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323