Indiabulls Real Estate to raise Rs 3911 cr

(18 second reading) Indiabulls Real Estate said its board has approved raising Rs 3,911 crore through the issuance of shares and warrants to investors, including the Blackstone Group and Embassy Group. Global investment firm Blackstone will invest Rs 1,235 crore, while the Bengaluru-based Embassy Group will infuse Rs 1,160 crore.

The move is aimed at recapitalising its balance sheet and positioning the company for organic and inorganic growth purposes.

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