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US firm to buy Indiabulls stake, 7 thousand crore deal!||AllBestNews||

US firm to buy Indiabulls stake, 7 thousand crore deal!||AllBestNews||

Friday, June 7, 2019

/ by All Best News
US firm to buy Indiabulls stake

US firm to buy Indiabulls stake, 7 thousand crore deal!

US investment firm Blackstone could soon buy shares of Indiabulls, a real estate sector company.

The real estate sector's promoter company, Indiabulls, could buy American investment firm Blackstone. The deal could be around $ 1 billion, or about 7 thousand crore rupees. The promoters of the Indiabulls group have also indicated the deal.

Promoters told the market regulator SEBI that they are planning to sell around 15% of their stake to the third party investor. After the news came, the shares of Indiabulls gained more than 5% in Friday's turnover. Here, in the past 1 year, Indiabulls' stock has fallen by more than 22%. There has been an increase of about 56.48 per cent so far this year.

View full stake

It is also being said in the media report that American company Blackstone, along with Bangalore-based realty firm Ambassi Group, could buy a full share of promoters. Actually, promoters have a 39% stake in Indiabulls Real Estate. However, Blackstone has refused to give any kind of statement regarding this transaction. Explain that for several months there is speculation that Indiabulls Group can exit the real estate sector business. The purpose of the company's exit from the real estate sector is that for the proposed merger of Indiabulls Housing Finance and Lakshmi Vilas Bank, the market regulator can get the necessary permit from SEBI.

Lakshmi Vilas will merge with the bank

Recently, there was news of merger between Indiabulls Housing Finance (IBH) and Lakshmi Vilas Bank. The purpose of this merging is to make a venture with more capital and broad geographical reach. After the merger, the venture will come into existence, the number of employees will be 14,302. At present, Lakshmi Vilas Bank has 569 branches across the country, 1046 ATMs.

If there is talk of Indiabulls Housing Finance then there are 220 branches across the country. Under the merger proposal, shareholders of Lakshmi Vilas Bank will get 14 shares of Indiabulls instead of 100 shares. At the end of December 2018, the total assets of Indiabulls housing finance was Rs 1,31,903 crore.

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