Indiabulls Real Estate, in an exchange filing, said that it has actually signed pacts with companies run by The Blackstone Group Inc to offer its stake in Mariana Infrastructure and the industrial possessions in Mumbai for an overall worth of Rs 810.7 crore, subjected to requisite approvals. The sale is part of Indiabulls’s divestment procedure to end up being a debt-free business by the end of the current fiscal. In September this year, the Mumbai-based real estate major had actually stated that it would attain absolutely no net debt in the existing financial year through strategic divestment of its stake in specific commercial and leasing organisation properties.
Indiabulls to sell commercial assets worth Rs 811 crore to Blackstone