Indiabulls buys Catherine from DLF

Indiabulls Real Estate Ltd has informed that Indiabulls Infrastructure Ltd ("IIL"), a subsidiary of the Company, has acquired 100% shareholding of Catherine Builders and Developers Pvt Ltd ("Catherine") from DLF Home Developers Ltd. Catherine owns 50% shareholding of Kenneth Builders & Developers Pvt Ltd ("Kenneth") which had earlier won the auction by DDA to develop a residential project on 35.8 acres of land located at Tehkhand in South Delhi. The remaining 50% shareholding of Kenneth is owned by Bridget Builders & Developers Pvt Ltd, a wholly owned subsidiary of IIL. With this acquisition, IIL now owns 100% stake in Kenneth through wholly owned subsidiaries.