This January, PE Firm - IL&FS Investment Managers bought 9.4% stake in the Indiabulls InfraEstate for R200 Cr.
Indiabulls InfraEstate owns two parcels of land in Worli area of Mumbai - Bharat Textile Mills and Poddar Mills, which together have over 10.6 acres of land. Indiabulls Real Estate is developing its Blu project on this land.
Indiabulls had bought 8.39 acres of Bharat Textile Mills land in 2010 for R1580 Cr from National Textile Corporation. Indiabulls also acquired the adjacent Poddar Mill on 2.3 acres for R498 Cr.