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Indiabulls sells 50% stake in office assets for Rs 464 cr to Blackstone

The company's existing wholly-owned subsidiaries Ashkit Properties Ltd and Yashita Buildcon Ltd have become joint ventures

Press Trust of India  |  New Delhi 

Indiabulls Real Estate
Photo: Twitter

Monday said it has divested up to 50 per cent stake in two in Gurugram at Rs 464 crore to the entities controlled by The

With this, the company's existing wholly-owned subsidiaries and have become joint ventures, said in a BSE filing.

"The company has divested up to 50 per cent stake in two in Udyog Vihar, Gurugram (aggregating 784,000 sq ft leasable office space) at an aggregate enterprise value of approximately Rs 464 crore to the entities controlled by The L.P., which is a globally renowned real estate private equity investor," the company said.

First Published: Mon, December 31 2018. 21:25 IST
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