Embassy Group, the biggest shareholder in Indiabulls Actual Property, has invested ₹1,160 crore via a preferential allotment of shares and warrants. Of this, 25 per cent is upfront, and the steadiness will probably be invested over 18 months. The ground value of the issuance was Rs 111.51 per share. It has additionally contributed a number of belongings in Bengaluru and Chennai to Indiabulls at an 8-16 per cent low cost to the typical of two valuations. The belongings embrace a 31-acre land in North Bengaluru the place a venture with 93 villas is proposed, a 5 lakh sq. ft residential venture in Whitefield, and a 1.4 msf proposed excessive rise in Chennai.
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