Indiabulls Financial Services is reorganizing its businesses. This will include the de-merger of its brokerage services known as Indiabulls Securities. The Indiabulls board has considered the proposal involving the de-merger of Indiabulls Securities on a going-concern basis and plans to list the resultant entity after the de-merger. Indiabulls also proposed the amalgamation of the entire business and undertaking of Indiabulls Credit Services with the company. Indiabulls has recently been in the news due to the IPO of its arm Dev Developers on the London Stock Exchange’s Alternative Investment Market (AIM) (See Related Post) and the hike in the stake held by steel magnate LN Mittal in the company.
Read the complete article in Business Standard.
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