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No Plan To Raise Stake In Indiabulls Real Estate : Embassy
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No Plan To Raise Stake In Indiabulls Real Estate : Embassy
Publish on : 2019-10-24 18:24:47
New Delhi: Bengaluru-Based Embassy Group Has No Immediate Plans To Increase Its Stake In Indiabulls Real Estate Ltd From The Current Nearly 14 Per Cent, The Company'S Cmd Jitu Virwani Said. There Is No Plan Right Now, Virwani Told Pti When Asked About The Company'S Plan To Raise Stake In Indiabulls Real Estate. The Company Would Remain Invested In Indiabull Real Estate, He Added. At The End Of The June Quarter, Embassy Property Development Pvt Ltd Held 13.89 Per Cent Stake In Indiabulls Real Estate. In June, Indiabulls Real Estate Promoters Sold 14 Per Cent Stake Through Open Market Transactions To Embassy Group For Rs 950 Crore, As Part Of Its Strategy To Focus On Financial Services And Exit From Realty Business. With This Deal, Bengaluru-Based Developer Embassy Group Sought To Enter Into Mumbai And Delhi-Ncr Markets, The Two Biggest Property Markets In The Country. Source:- The Economic Times.

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