IBREL recently raised more than Rs 3,911 crore through a preferential allotment to a diverse group of investors, including Embassy Group and Blackstone. Embassy Group will be the largest shareholder in IBREL, with 18.7% ownership on a fully diluted basis.
In terms of volumes, the company s sale bookings fell to 82,000 square feet during April-June period of this fiscal from 3,33,000 square feet in the corresponding period of the previous year.
IBREL said the sanction to the merger of NAM Estates and Embassy One Commercial Property Developments into IBREL has been withheld by the NCLT, Chandigarh bench