Here's what Embassy Group deal means for Indiabulls Real Estate investors

As per reports, the US private equity giant Blackstone Group and Bengaluru-based property developer Embassy Group are set to jointly acquire Indiabulls Real Estate's promoters' stake.

Shares of Indiabulls Real Estate (IBREL) rallied as much as 15 per cent to Rs 151 apiece on the BSE on Friday after the promoters sold 14 per cent of their holding in the company through open market.

At 09:15 am, around 61.33 million shares representing 13.6 per cent of total equity of Indiabulls Real Estate had changed hands on the BSE in single transaction, the exchange data shows. Till 10:20 am, a combined 90 million shares or 20 per cent of total equity of real estate Company changed hands on the NSE and BSE.

The name of the buyers