Indiabulls Real Estate (IBREL) is making progress on its plans to monetise its commercial and non-core assets with two deals it announced on Monday and Friday involving its Mumbai commercial and Chennai properties. The company is divesting its entire stake in certain subsidiaries and thereby indirectly divesting 50 per cent stake in Indiabulls Properties (IPPL) and Indiabulls Real Estate Company (IRECPL) at an aggregate enterprise value of around $1.4615 billion or Rs 9,500 crore. The stake sale in entities that include One Indiabulls and Indiabulls Finance Centre will fetch the company Rs 4,750 crore. The company is also selling residential
Commercial and non-core assets' monetisation plan positive for IBREL
Debt after asset sale could come down by half
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