Deutsche Bank appointed as Depository Bank for IIPL's GDR Programme

Was indirectly engaged in the business of power generation, distribution, transmission

Deutsche Bank has been appointed as depository bank for the Luxemborg Stock Exchange-listed Global Depository Receipt (GDR) of Indiabulls Infrastructure and Power Limited (IIPL).

IIPL is part of the Indiabulls Group and provides consultancy services to companies venturing into the business of power generation, transmission and distribution.

It was also indirectly engaged in the business of power generation, distribution and transmission through its affiliate Indiabulls Power Limited, in which it holds a 44.84 per cent interest, said a press release, issued by Deutsche Bank.