Indiabulls Plans To Sell Two Subsidiary & Its Assets In Chennai
2018-03-25 Disinvestment Construction Southern India
Indiabulls Real Estate Limited's board has authorized to evaluate & finalize options available for the sale of company’s residential and commercial assets at Chennai, being a non-core market for Company’s real estate business operations, please be informed that the company has entered into definitive transaction document(s) to sell its stake in its wholly owned subsidiaries, namely Selene Estate Limited and Airmid Infrastructure Limited (owning residential assets at Chennai) to a third party investor, for an aggregate consideration of Rs. 285 Crores. The transaction is expected to be concluded during the current financial year.