The Hindu Business Line : Indiabulls teams up with Dev Property

Indiabulls Financial Services Ltd has informed the BSE that Indiabulls Real Estate Ltd is proposing to enter into an equity tie-up with Dev Property Development Plc, incorporated in the Isle of Man.

Dev shall subscribe to new shares and acquire a minority shareholding in Indiabulls Properties Pvt Ltd, Indiabulls Real Estate Company Pvt and Indiabulls Infrastructure Development. In addition, an application will be made to list the Dev shares on the London Stock Exchange's AIM market.

Shares of Indiabulls Financial Services fell 2.58 per cent to close at Rs 264.30 on the BSE.

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