Thus far in the July-September quarter, the market price of Indiabulls Real Estate more than halved from level of Rs 114, as compared to 1.5 per cent decline in the S&P BSE Sensex.
Indiabulls Real Estate has sold a 50 stake in Indiabulls One Centre and Indiabulls Finance Centre in the Lower Parel area of Mumbai and a commercial property in Gurugram to Blackstone
The stock slipped 7% to Rs 58 on Wednesday, and is trading at its lowest level since November 22, 2016 on the BSE.
The PE firm is expected to add the assets to the portfolio of Embassy Office Parks Real Estate Investment Trust, its joint venture with Bengaluru-based realty developer Embassy Group
Indiabulls now mulling partnership with Blackstone for its commercial real estate assets
Gehlaut to sell additional stake in a week
The quasi-judicial body issued its order on April 30, which was the deadline for the ruling. I-T rules provide the tax commission 18 months to pass the order
As per reports, the US private equity giant Blackstone Group and Bengaluru-based property developer Embassy Group are set to jointly acquire Indiabulls Real Estate's promoters' stake.
The Blackstone Embassy duo would buy promoter Gehlaut's stake in IBREL for around Rs 2,700 crore at an equity valuation of Rs 7,000 crore, reports said on Friday
The company's existing wholly-owned subsidiaries Ashkit Properties Ltd and Yashita Buildcon Ltd have become joint ventures
The buyback was from all shareholders of the company, excluding promoters and promoter group of the company, from open market through stock exchanges
Blackstone has invested over $5 billion across 30 real estate investments, of which $3.7 billion is in office space. It has built a portfolio of 78 million sq ft with its partners
The stock surged 9% to Rs 202 in otherwise weak market after the company said its board will meet on Friday, May 18, 2018, to consider the proposal of buy-back of equity shares of the Company.
Debt after asset sale could come down by half
The stock moved higher by 8% to Rs 230 on BSE in otherwise weak market
The stock up 3% at Rs 263 on BSE has outperformed the market by gaining 22% against 2.3% rise in the S&P BSE Sensex in past eight trading days
A combined 41.89 million shares representing 8.8% of total equity of Indiabulls Real Estate changed hands on NSE and BSE till 10:36 AM.
On June 22, Orient Global Cinnamon Capital purchased 17.6 million shares at Rs 200 per share.
IBREL IBL Scheme Trust sold 33 million shares of the company for about Rs 663 crore.
It is rare for any stock to rise 40% in just one trading session