single

The announcement was made after markets on Thursday, 6 June 2019

Meanwhile, the S&P BSE Sensex was trading down 221.28 points or 0.56% at 39,308.44

On the BSE, 6.75 crore shares were traded on the counter so far as against the 2-week average of 12.50 lakh shares. The stock has hit a 52-week high of Rs 180.40 on 7 June 2018 and a 52-week low of Rs 63.05 on 6 February 2019.

Indiabulls Real Estate announced that in line with the company's promoters' strategy to focus on financial services in the long run, the promoters intend to dispose-off up to 14% of the fully paid-up share capital of the company (out of the aggregate 38.72% fully paid up share capital of the company, currently held by them) to third party investors.

Some media reports suggested that US-based investment firm Blackstone may acquire Indiabulls Real Estate's promoters' stake at an estimated enterprise value of around $1 billion. Blackstone might buy promoters' total 39% stake in Indiabulls Real Estate through a joint venture with Bengaluru-based realty firm Embassy Group, reports added.

Indiabulls Real Estate's consolidated net profit fell 95% to Rs 108.61 crore on 43.2% decline in net sales to Rs 1821.55 crore in Q4 May 2019 against Q4 May 2018.

Indiabulls Real Estate has a diversified presence in both commercial and residential real estate development.

TAGS

0 thoughts on “Indiabulls Real Estate jumps on buzz Blackstone may buy promoters stake”

Post Comment



  Stock Future Tips

Majority of the intraday traders are trading in stock future with decent capital as the profit is more. stock future tips are not as like cash calls which need to put number of shares to buy, all are said in lot basis which differed from each company.



Daily News

VIEW ALL