ALSO READIndiabulls Real Estate tanks nearly 10%; mcap down Rs 1,064 cr IBREL IBL Scheme Trust sells 3.3 crore shares of Indiabulls Real Estate Indiabulls Real Estate to raise up to Rs 500 cr via debentures Indiabulls Real Estate promoter sells 3.3cr shares for Rs662cr Indiabulls Real Estate to delist Singapore arm
Indiabulls Properties Investment Trust becomes 100% subsidiary of Indiabulls Real EstateIndiabulls Real Estate announced in reference to the closure of voluntary unconditional cash offer (Offer) by its subsidiary, Brenformexa, for acquisition of all units in Indiabulls Properties Investment Trust, a SGX-ST listed business trust (IPIT), and its exercise of right to compulsorily acquire all remaining units of Unitholders who have not accepted the Offer on the closing of the Offer, at Offer Price of S$0.90 per Unit (compulsory acquisition), Indiabulls Property Management Trustee, trustee-manager of IPIT (Trustee-Manager) had made an application to SGX-ST to obtain its approval to proposed voluntary delisting of IPIT from SGX-ST.
The SGX-ST has, by its letter dated 6 December 2017, informed the Trustee-Manager that it has no objection to delisting of IPIT from SGX-ST. The above will result in the Company becoming the 100% owner of IPIT and IPIT will get delisted from SGX-ST.
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