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Embassy Group, led by chairman Jitendra Virwani, plans to infuse additional capital and assets into Indiabulls Real Estate Limited (IREL), of which it holds the largest stake. The merger of Embassy s residential and commercial projects with IREL, once approved by the National Company Law Appellate Tribunal, will create the country s largest real estate developer. ....
Indiabulls Real Estate raised Rs 3,911 crore from investors like Embassy Group, Baillie Gifford & Co, Blackstone Real Estate Fund following SEBI guidelines at Rs 111.51 per share. The company plans acquisitions in Bengaluru and Chennai. ....