Connect with us


Indiabulls Real Estate buys back PE investor’s stake in 7 projects

Indiabulls Real Estate has purchased the entire stake of US-based private equity (PE) fund FIM Ltd in its seven project subsidiaries for Rs 1,172 crore.

FIM, a foreign venture capital investor of Farallon Capital Management, held 49 per cent equity stake in the project joint ventures and had invested Rs 847 crore in 2007.
With the purchase of Farallon’s entire stake, these project subsidiaries will now be 100 per cent owned by Indiabulls Real Estate.

These project companies are currently building residential apartments in over 120 acres in Gurgaon, 160 acres in NCR and 15 acres in Chennai.

Indiabulls Real Estate has a net worth of Rs 6,830 crore and is developing 7.3 crore sq.ft. across Mumbai, NCR and Chennai.

The company has delivered One Indiabulls Center and Indiabulls Finance Center, both in Mumbai. Recently HSBC had signed up for 70,000 sq ft of office space at Indiabulls Finance Center, the company said.


Latest News

Events20 hours ago

Danube Properties’ Dh525 million Opalz sold out on the first day of launch

October 4, 2022: Danube Properties, the UAE-based affordable housing developer, said, its latest project Opalz, a twin-tower residential project with...

Events20 hours ago

Pacific Mall D21’s ‘Dussehra Celebrations’ drops the curtain with high attendance

New Delhi: Pacific Mall D21 organised a two-day Dussehra celebration and Garba Night, attracting massive turnouts. The special arrangement of...

News21 hours ago

Tata Value Homes sells over 100 residential units at New Haven, Bahadurgarh at launch

Delhi/Haryana October 4, 2022: With an aim to address the growing demand for quality homes in Haryana – Bahadurgarh, Tata...

New Launches21 hours ago

Welspun Corp opens steel plant in Anjar

October 3, 2022, Anjar, Gujarat: Welspun Metallics Limited, a subsidiary of Welspun Corp Limited (WCL), the flagship company of the Welspun...

Events2 days ago

Over 1500 cyclists join Hiranandani Thane Cyclothon 2022 to support ‘Rhyme for Earth’ initiative

October 2, Thane: The Hiranandani Group hosted the first Hiranandani Thane Cyclothon today from its thriving Thane township, Hiranandani Estate. Over...

New Launches2 days ago

Ashiana Housing adds over 900 senior living units with Villas and Apartments with the launch of Ashiana Advik in Bhiwadi

New Delhi, October 3, 2022: New Delhi-based real estate developer Ashiana Housing has announced the launch of Ashiana Advik in Sector 39, Bhiwadi....