 "Indiabulls Real Estate")
Commercial real estate major Embassy Property Development is expected to mop up an additional 14 per cent stake in Indiabulls Real Estate in a week. According to sources, Embassy will buy out 14 per cent stake in Indiabulls Real Estate from its promoters’ Sameer Gehlaut and his group companies.
“The deal is likely to conclude in a few days,” said the source. This would be the second round of stake acquisition from Indiabulls Real Estate’s promoters, following the first tranche, which concluded on June 7.
Similar to the previous round of stake purchase, sources said the second tranche would also take place
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