Promoters sell stake in Indiabulls ahead of merger
Real Estate

Promoters sell stake in Indiabulls ahead of merger

Realty developer Indiabulls Real Estate's founder Sameer Gehlaut and promoters have sold around 3.1% stake in the company, in the open market between March 8 and 10.

Promoters of Indiabulls Real Estate are reducing their stake ahead of the completion of its merger with Embassy Group. The merger has already received approval from the Securities & Exchange Board of India (Sebi), the stock exchanges, and the Competition Commission of India (CCI).

The companies are now in the process of filing a requisite application with the National Company Law Tribunal (NCLT) for its approval.

The merger will be a cashless structure as Embassy subsidiaries—Embassy One Commercial Property Developments (NAM Opco) and NAM Estates (NAM) will swap shares with Indiabulls Real Estate.

According to the terms approved by boards of both the merging entities, Indiabulls Real Estate shares are valued at Rs 92.5 per share.

Shareholders of Embassy subsidiary NAM will get 6.619 shares of Indiabulls Real Estate for every 10 shares of NAM, while NAM Opco shareholders will get 5.406 shares of Indiabulls Real Estate for every 10 shares in NAM Opco.

The combined listed entity will be 44.9% owned by Embassy Group, 26.2% by the existing public and institutional shareholders, 9.8% by the existing IBREL promoter group and around 19.1% by the Blackstone group and other Embassy institutional investors.

Embassy Group is one of the largest developers in Bengaluru, already holds 14% of listed Indiabulls Real Estate. Following the completion of this merger, Embassy Group will become the promoter of the combined entity.

Image Source


Also read: Indiabulls Real Estate and Embassy Group sign definitive merger documentation

Realty developer Indiabulls Real Estate's founder Sameer Gehlaut and promoters have sold around 3.1% stake in the company, in the open market between March 8 and 10. Promoters of Indiabulls Real Estate are reducing their stake ahead of the completion of its merger with Embassy Group. The merger has already received approval from the Securities & Exchange Board of India (Sebi), the stock exchanges, and the Competition Commission of India (CCI). The companies are now in the process of filing a requisite application with the National Company Law Tribunal (NCLT) for its approval. The merger will be a cashless structure as Embassy subsidiaries—Embassy One Commercial Property Developments (NAM Opco) and NAM Estates (NAM) will swap shares with Indiabulls Real Estate. According to the terms approved by boards of both the merging entities, Indiabulls Real Estate shares are valued at Rs 92.5 per share. Shareholders of Embassy subsidiary NAM will get 6.619 shares of Indiabulls Real Estate for every 10 shares of NAM, while NAM Opco shareholders will get 5.406 shares of Indiabulls Real Estate for every 10 shares in NAM Opco. The combined listed entity will be 44.9% owned by Embassy Group, 26.2% by the existing public and institutional shareholders, 9.8% by the existing IBREL promoter group and around 19.1% by the Blackstone group and other Embassy institutional investors. Embassy Group is one of the largest developers in Bengaluru, already holds 14% of listed Indiabulls Real Estate. Following the completion of this merger, Embassy Group will become the promoter of the combined entity. Image Source Also read: Indiabulls Real Estate and Embassy Group sign definitive merger documentation

Next Story
Infrastructure Urban

DCPC Prepares for Special Campaign 5.0 with Focus on E-Waste

The Department of Chemicals and Petrochemicals (DCPC), Ministry of Chemicals and Fertilisers, is gearing up for Special Campaign 5.0, to be held from 2nd to 31st October 2025. The initiative will focus on e-waste disposal as per MoEFCC’s E-Waste Management Rules 2022, space optimisation, and enhancing workplace efficiency across field offices.Special Campaign 4.0, conducted between October 2023 and October 2024, delivered notable results in record management, grievance redressal, scrap disposal, and cleanliness drives.Key outcomes of Special Campaign 4.0Records management: 2,443 physical fil..

Next Story
Real Estate

BlackRock India Leases 1.4 Lakh Sq Ft in Bengaluru

BlackRock Services India, the domestic arm of global asset manager BlackRock, has leased 1.4 lakh sq ft of office space at IndiQube Symphony in Bengaluru, according to Propstack data. The 10-year deal is valued at around Rs 4.10 billion.The lease, among the largest transactions in India’s co-working sector, highlights the growing preference of global institutions for flexible office providers. The agreement, commencing October 1, 2025, covers ground plus five floors in KNG Tower 1 at Ashoknagar, MG Road — one of Bengaluru’s prime commercial hubs.As per the lease document, BlackRock will ..

Next Story
Infrastructure Transport

L&T Bags Rs 25–50 Bn Order for Mumbai-Ahmedabad Bullet Train Track Works

Larsen & Toubro’s (L&T) Transportation Infrastructure business has secured an order valued between Rs 25 crore and Rs 50 billion from the National High Speed Rail Corporation Limited (NHSRCL) for the Mumbai-Ahmedabad High Speed Rail (MAHSR) corridor.The contract, Package T1, involves the design, supply, construction, testing, and commissioning of 156 route km of high-speed ballastless track on a Design-Build Lump Sum Price basis. The stretch runs from Mumbai’s Bandra-Kurla Complex to Zaroli village in Gujarat and includes 21 km of underground track and 135 km of elevated viaduct.Se..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?