Sky Forest Projects acquired by Indiabulls Real Estate for Rs 647 crore
Indiabulls Real Estate acquired a 100 percent stake in Sky Forest Projects Pvt Ltd from Blackstone at an enterprise value of Rs 647 crore. As per the regulatory filing, Indiabulls's subsidiary Indiabulls Constructions has "completed the acquisition of 100 percent stake, on a fully diluted basis.
This comes as Indiabulls Real Estate Ltd (IBREL) has posted a widening consolidated net loss of Rs 1,038.65 crore for the last fiscal year.
Also Read: Elan Group And Indiabulls Sign Deal For 40 Acres Land