Indiabulls, Embassy arms merger to create real estate entity with $1.25b equity value

Indiabulls, Embassy arms merger to create real estate entity with $1.25b equity value

Photo: Pradeep Gaur/Mint

Embassy Developments Ltd, the joint venture between Indiabulls Real Estate Ltd (IBREL) and two Embassy Group subsidiaries, will have an equity value of 9,400 crore ($1.25 billion).