BackIndiabulls arm acquires India Land and Properties for Rs600 crore
India Land and Properties owns a commercial complex of three towers in Chennai with a total constructed area of 2.4 mn sq. ft and leasable area of 2 mn sq. ft
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Mumbai: Indiabulls Securities Ltd on Wednesday said its subsidiary Indiabulls Distribution Services Ltd has acquired India Land and Properties Pvt. Ltd, a real estate firm, for ₹ 600 crore.
India Land and Properties owns a commercial complex of three towers in Chennai with a total constructed area of 2.4 million sq. ft and leasable area of 2 million sq. ft. The total land area of the complex is over 10 acres, Indiabulls said.
The building complex will be renamed as One Indiabulls Park, Chennai.
Shares of Indiabulls Securities closed at ₹ 25 per share on the BSE, unchanged from the previous close, while the benchmark Sensex fell 0.46% to close at 28,032.85 points.
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