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Embassy Group to merge assets into IBREL to create India's largest realtor

Embassy Group already has around 14 per cent stake in Mumbai-based IBREL and the same will increase to 45 per cent after the merger of assets of these two companies

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The combined entity will be renamed Embassy Developments Ltd and will be co-headquartered in Mumbai and Bengaluru

Press Trust of India New Delhi

3 min read Last Updated : Aug 19 2020 | 12:12 AM IST

Bengaluru-based realty firm Embassy Group on Tuesday signed an agreement to merge its various housing and commercial projects with Indiabulls Real Estate Ltd (IBREL) and take control of the merged entity.

Embassy Group already has around 14 per cent stake in Mumbai-based IBREL and the same will increase to 45 per cent after the merger of assets of these two companies.

IBREL as well as Embassy group's arm NAM Estates (NAM) and Embassy One Commercial Property Developments (NAM Opco) have entered into definitive merger documentation to amalgamate ongoing, completed & planned residential and commercial projects of these two subsidiaries, according

Topics : Indiabulls Real Estate Embassy group Real Estate