Two subsidiaries of Indiabulls Actual Property Restricted (IBREL), which maintain the rights to develop a chief plot in Gurugram, have been bought by IBREL for INR240 crore. The land parcel has an estimated internet surplus worth of over INR1,800 crore as per IBREL’s personal investor replace presentation from 2022. What’s behind the numbers?
In December 2022, India’s main actual property participant — Indiabulls Actual Property Restricted (IBREL) introduced in its inventory change filings that it has bought two of its wholly-owned subsidiaries to an entity named Dhani Companies Restricted, owned by Sameer Gehlaut — the previous promoter of IBREL, for a consideration of INR240 crore. The 2 subsidiaries collectively maintain the license for the event of a Gurugram-based residential venture, One Indiabulls. The
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