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Board of Indiabulls Real Estate considers proposal for restructuring of business

Capital Market 

At meeting held on 17 April 2017

announced that the Company's Board in its meeting on 17 April 2017 considered the possibility of streamlining its existing 'residential', 'commercial' and 'leasing' businesses by segregating 'commercial & leasing' business carried on by itself and/or through its SPVs and vesting the same into 'Indiabulls Commercial Assets' (ICAL) and restructuring/reorganizing its businesses by either (i) restructuring by way of placing ICAL as a separate holding co under the Company to hold its assets and investments relating to 'commercial & leasing' business segment and to undertake the business & operations of 'commercial & leasing' business segment and/or explore opportunities to bring in strategic investments; or (ii) by reorganizing its existing businesses by way of a demerger of the undertakings, business, activities & operations pertaining to its commercial & leasing business segments.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Mon, April 17 2017. 09:35 IST