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| Updated on November 15, 2017 Published on January 14, 2012

Indiabulls Real Estate Ltd has informed BSE that for the real estate project on 8.39 acres of land at Lower Parel Division, Mumbai, earlier known as Bharat Textile Mills, being developed by M/s. Indiabulls Infraestate Limited, a 100% subsidiary of the Company ("IBREL SPV"), M/s. IL&FS Trust Company Limited and its group of investors namely IIRF India Realty XXI Limited and Little Fairy Limited (the "Investors"), have invested an aggregate of Rs. 200 crores, through subscription to equity in IBREL SPV for an aggregate minority stake of 9.36% of its post issue equity share capital at a valuation of Rs. 2,136 crore which is at a premium of Rs. 555.70 crore to the price of Rs. 1,580.30 crore paid for acquiring Bharat mills (including stamp duty).

Source : BSE - >www.bseindia.com

Published on January 14, 2012
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