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| Exchange Received Time 14/03/2017 23:31:35 Exchange Disseminated Time 14/03/2017 23:31:40 Time Taken 00:00:05 | | We wish to inform that Indiabulls Infrastructure Ltd (IIL), a WOS of the Company, has signed a definitive agreement to acquire 100% share capital of India Land and Properties Ltd (ILPL), for an aggregate consideration of Rs.685 crores, from Indiabulls Distribution Services Ltd (a WOS of Indiabulls Ventures Ltd), and the deal is expected to be completed in the current financial year, post completion of the deal ILPL will become 100% WOS of the Company. ILPL owns a commercial complex of 3 towers with total constructed area of 2.67 mn Sq. ft and leasable area of 1.94 mn Sq.ft, spread over total land of over 8.84 acres at Ambattur Industrial Estate, Chennai. Some of the lessees of these towers are RBS, Yes Bank, Kone, Ajuba, Covenant, MSC service centre, HGS, Access Healthcare etc. The said complex has been designed in compliance to the National Building Codes by internationally acclaimed Ms. ZAHA HADID, UK, "Laureate Pritzker" Prize Winner (2004) and its a GOLD rated GREEN Building. |
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