New Delhi: Indiabulls genuine land parcel on Monday said it has acquired back 49 per hundred stake each held by US-based private equity firm Farallon Capital administration in its seven realty projects for Rs 1,172 crore.
Farallon had bought into Rs 847.48 crore in seven projects of Indiabulls throughout 2006-08 and has exited at 38 per hundred higher cost.
In a filing to the BSE, Mumbai-based Indiabulls genuine land parcel said "the company has bought the entire stake of FIM Ltd and its affiliates in its seven project subsidiaries for a total consideration of Rs. 1172.16 crore".
FIM Ltd, which is organised by Farallon Capital administration LLC, held 49 percent equity stake in these JVs and had invested Rs 847.48 crore in 2006 to 2008.
With the purchase of FIM's whole stake, Indiabulls said these task subsidiaries will now be 100 per hundred belongs to by the business.
Of the seven projects, five are in Gurgaon and one each at Chennai and Sonepat.
Indiabulls Real Estate portions were swapping at Rs 58.40 a part on BSE, up by 2.37 per hundred in after noon trade
Farallon had bought into Rs 847.48 crore in seven projects of Indiabulls throughout 2006-08 and has exited at 38 per hundred higher cost.
In a filing to the BSE, Mumbai-based Indiabulls genuine land parcel said "the company has bought the entire stake of FIM Ltd and its affiliates in its seven project subsidiaries for a total consideration of Rs. 1172.16 crore".
FIM Ltd, which is organised by Farallon Capital administration LLC, held 49 percent equity stake in these JVs and had invested Rs 847.48 crore in 2006 to 2008.
With the purchase of FIM's whole stake, Indiabulls said these task subsidiaries will now be 100 per hundred belongs to by the business.
Of the seven projects, five are in Gurgaon and one each at Chennai and Sonepat.
Indiabulls Real Estate portions were swapping at Rs 58.40 a part on BSE, up by 2.37 per hundred in after noon trade
No comments:
Post a Comment