Indiabulls Real Estate acquisition in Piramyd Retail

IndiaBulls Real Estate has acquired majority stake in Piramyd Retail, and the company has made this annoucement to the BSE and NSE. Indiabulls Real Estate has acquired around 64 per cent in Piramyd Retail promoted by the Ashok Piramal Group and has announced an open offer to acquire another 20 per cent at a price of Rs. 74.73 per share from the share holders of the company. Indaibulls Real Estate stock prices moved up firmly on the BSE based on the Acquisition news and the open offer.