Indiabulls acquires 100 pc shareholding of Catherine

Mumbai, Feb 7: Indiabulls Real Estate has informed BSE that Indiabulls Infrastructure Limited (IIL), a subsidiary of the Company, has acquired 100 per cent shareholding of Catherine Builders and Developers from DLF Home Developers.

Catherine owns 50 per cent shareholding of Kenneth Builders and Developers, 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 per cent shareholding of Kenneth is owned by Bridget Builders and Developers, a wholly owned subsidiary of IIL. With this acquisition, IIL now owns 100 per cent stake in Kenneth through wholly owned subsidiaries.

UNI