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Indiabulls Real Estate board to meet on Feb 25

By PTI Feb 23 2010 , Mumbai

Indiabulls Real Estate today said its board would meet on Thursday to discuss restructuring

of its wholesale trading business through demerger.

In a filing to the Bombay Stock Exchange the company said its board would meet on February 25 to consider a scheme of demerger of its wholesale trading business to Indiabulls Wholesale Services Ltd.

The company had earlier said that the restructuring would unlock value and also streamline the operations and ownership structure of Indiabulls Real Estate.

Last week Indiabulls Real Estate had said that its board has appointed advisers and authorised a committee to prepare and present the draft proposal and related documents for the said demerger.

Shares of Indiabulls Real Estate were trading at Rs 153.85, up 0.36 per cent on the BSE

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