Indiabulls in Pounds 138m Aim Deal.

Indiabulls to Acquire Dev Property in Landmark All-Share Deal

In a groundbreaking transaction, Mumbai-listed real estate powerhouse Indiabulls is poised to acquire Aim-listed Dev Property Development through an all-share offer. This monumental deal, valued at £138 million, represents the first instance of a UK transaction of this magnitude being entirely financed by Indian shares.

About the Companies

Indiabulls, a prominent property and financial services conglomerate boasting a market capitalization of £4 billion, serves as the parent company of Ibrel, India's largest real estate firm. Ibrel is currently spearheading several of Mumbai's most significant commercial projects. Dev Property, based in the Isle of Man, will be valued at a 32% premium to its closing price of 75.5p upon successful completion of the deal, which is still awaiting approval.

India's Economic Boom Fuels Commercial Property Market

India's robust economic expansion, with GDP growth nearing nine percent annually, has spurred substantial investment from international corporations establishing offices in Mumbai. This influx of investment has ignited the city's commercial property market, creating lucrative opportunities for developers like Indiabulls and Dev Property.

Dev Property's AIM Listing

In the previous year, Dev Property distinguished itself as the fourth Indian developer to launch an Aim listing of a fund. This innovative financial instrument enabled investors to participate in the flourishing Indian real estate market through a UK investment vehicle. The impending acquisition by Indiabulls further underscores the growing interest and investment activity within the Indian real estate sector.