Indiabulls Real Estate to seek shareholders nod for office leasing business stake sale

Indiabulls Real Estate will be seeking its shareholders’ approval for divesting stake in its commercial leasing business and assets in Chennai on March 23, the company said in a regulatory filing. Indiabulls Real Estate has already announced that it is aiming to induct an institutional investor into its commercial leasing business by the end of current financial year. The realty developer has moved further with its proposed reorganization of its commercial leasing business authorizing the execution of non-binding documents with third party institutional investor.