In the last one year, Bengaluru realty player Embassy group has been getting attention for market-leading moves, at a time when most of the sector is dealing with a downturn. They include the launch of a real estate investment trust (REIT) called the Embassy Office Parks REIT, which was rolled out in April with the backing of New York-based investment firm Blackstone group.
Then came the recent announcement on acquiring Indiabulls Real Estate Division (IBRIL). Specifically, on Thursday, Embassy announced it would buy out promoter Sameer Gehlaut’s stake in his firm Indiabulls Real ...
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