Embassy Group has become the new promoter of Equinox India Developments Limited (formerly known as Indiabulls Real Estate Limited), acquiring a 41.4% controlling stake in the company.
This change is expected to mark a new phase of growth for Equinox India, with Embassy Group now at the helm, guiding the company through a period of consolidation and growth. Mr. Virwani’s extensive experience and leadership within the real estate industry will be pivotal as Equinox India Developments aims to strengthen its position in the competitive Indian real estate market.
The announcement also follows the successful completion of the merger between Equinox India Developments and NAM Estates, which has resulted in the allotment of over 60.91 crore fully paid equity shares to the shareholders of NAM Estates. This strategic move aligns with Equinox India’s vision to create one of India’s largest and most resilient real estate platforms, focused on both residential and commercial assets.
Key Highlights:
- Embassy Group now holds a 41.4% controlling stake in Equinox India Developments.
- Successful completion of the NAM Estates merger.
- The company will soon operate under a new Embassy brand and proposes to rename itself as Embassy Developments Limited.
- Equinox India aims for strong corporate governance and sustainable growth.
