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Embassy Group, led by chairman Jitendra Virwani, plans to infuse additional capital and assets into Indiabulls Real Estate Limited (IREL), of which it holds the largest stake. The merger of Embassy's residential and commercial projects with IREL, once approved by the National Company Law Appellate Tribunal, will create the country's largest real estate developer.
Embassy Group, Blackstone Real Estate Fund, Baillie Gifford & Co and others to invest
Indiabulls Real Estate raised Rs 3,911 crore from investors like Embassy Group, Baillie Gifford & Co, Blackstone Real Estate Fund following SEBI guidelines at Rs 111.51 per share. The company plans acquisitions in Bengaluru and Chennai.
In the Nifty pack, 27 stocks closed in the green, while 23 stocks ended in the red.
Capri Global share price: The counter traded higher than the 5-day, 10-, 20-, 100-, 150-day and 200-day simple moving averages (SMAs) but lower than the 30-day and 50-day SMAs. The stock's 14-day relative strength index (RSI) came at 54.40.