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Embassy Group arms & Indiabulls Real Estate awaits NCLT approval for merger
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Indiabulls Real Estate, Embassy Group aim to complete merger by December end
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Synopsis
The merger that will create one of India s largest listed property development platforms has received nod from anti-monopoly watchdog the Competition Commission of India (CCI). It has also received regulatory approvals from the NSE, BSE, capital market regulator Securities & Exchange Board of India (SEBI).
Agencies
The combined entity is likely to benefit from a complementary pan-India presence across key markets
Property developers Indiabulls Real Estate and Embassy Group are looking to complete their proposed merger, which marks the former’s complete exit from real estate business, by December end.