Embassy, Indiabulls Real Estate amalgamation gets key approvals
February 25, 2021
Merger process progressing to completion in a timely manner, say companies The Proposed Scheme of Amalgamation between Indiabulls Real Estate Ltd (IBREL), NAM Estates Pvt Ltd (NAM) and Embassy One Commercial Property Developments Private Limited (EOCPDPL) filed with CCI, BSE, NSE and the Securities Exchange Board of India (SEBI) has received all relevant regulatory approvals.
IBREL, NAM and EOCPDPL, in a joint release said: “Now with all necessary corporate approvals on track, the merger process is progressing to completion in a timely manner.”
NAM and EOCPDPL are subsidiaries of the Embassy Group, Embassy Group is one of the largest developers in Bengaluru and holds 14 per cent of IBREL.