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Our Bureau

Mumbai , Oct. 24

INDIABULLS Financial Services Ltd has informed the BSE that FIM Ltd, a company incorporated in Mauritius and managed by the San Francisco-based Farallon Capital Management LLC, has bought 60 per cent equity in Indiabulls Real Estate Company Private Ltd (IRECPL) for Rs 5.1 crore.

IREPCL is engaged in the construction and development of immovable property. Indiabulls Properties Pvt Ltd, another subsidiary of Indiabulls Financial Services, had bought Jupiter and Elphinstone Mills land in Mumbai for over Rs 700 crore from National Textile Corporation. Following the Bombay High Court setting aside the sale of mills land, Indiabulls Properties had announced its intent to go in appeal to the Supreme Court.

Farallon Capital Management LLC is an investment advisor registered with the US Securities and Exchange Commission (SEC), managing over $15 billion in private assets for some of the leading institutions.

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