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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.
The amalgamation will come into effect upon completing all legal formalities, including filing a certified copy of the NCLAT order with the jurisdictional Registrar of Companies.
Mumbai based Indiabulls Ltd. is likely to merge 62 million sq ft of its real estate with Bengaluru-based developer, Embassy group.