Indiabulls Real Estate spurts on divesting entire stake in subsidiaries
Indiabulls Real Estate is currently trading at Rs. 76.45, up by 2.25 points or 3.03% from its previous closing of Rs. 74.20 on the BSE.
The scrip opened at Rs. 74.50 and has touched a high and low of Rs. 77.45 and Rs. 74.10 respectively. So far 231883 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 177.40 on 12-Jan-2022 and a 52 week low of Rs. 58.05 on 06-Jul-2022.
Last one week high and low of the scrip stood at Rs. 87.35 and Rs. 73.25 respectively. The current market cap of the company is Rs. 4160.07 crore.
The Institutions holding in the company stood at 26.79%, while Non-Institutions held 73.21% stake in the company.
Indiabulls Real Estate has divested its 100% stake, on a fully diluted basis, in its wholly owned subsidiaries Juventus Estate and Mabon Properties, which collectively own the land parcel admeasuring around 35 acres at Sector 104, Dwarka Expressway, Gurugram, Haryana. With this, Juventus Estate, Mabon Properties and Milkyway Buildcon (which is a 100% subsidiary of Juventus Estate) ceased to be the subsidiaries of the Company with effective from December 23, 2022.
Indiabulls Real Estate is India's third largest real estate company, with its focus on construction and development of residential, commercial and SEZ projects across major Indian metros.
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