Indiabulls to allot IBREL shares in 1:1 ratio

India Bulls Financials Services will allot shares of Indiabulls Real Estate Ltd (IBREL) in 1:1 ratio to shareholders of the company.

For every Rs 2 fully paid up share of Indiabulls Financial Services held, shareholders will receive one share of IBREL of Rs 2 face value.

Indiabulls has fixed January 9 as record date to determine entitlement to IBREL shareholders following the demerger of its real estate business, a BSE circular said today.