Indiabulls Ltd

Project development update

• Entered into DM with private landlord for 10.84-acre Dwarka Expressway project, Gurugram.
• Phase 1 and 3 have RERA registrations; launch expected by mid-October 2026.
• Estimated saleable area 21 lakh sq ft; GDV Rs 3,700 crores.
• Total GDV across all Indiabulls projects rises to Rs 27,308 crores.

PIL status and loan repayment

• PIL against promoter; EOW status report filed per Supreme Court order dated 28.07.2026.
• All loans repaid; 197 accounts closed; sanctioned ₹8,267.86 cr; gross collection ₹11,073.77 cr; interest > ₹2,800 cr.
• Group loans: DLF 67, Vatika 113, Americorp 4, Chordia 6, Reliance ADA 7; all closed.
• No financial loss; disbursements and repayments recorded in bank accounts; SEBI/NHB audits found no diversion.
• Americorp investments redeemed by FY 2018-19; no outstanding investment.
• Investments into promoter-associated entities occurred before borrowings; negates alleged fund diversion.
• Yes Bank nexus; CBI case applications; SC stated linked cases; no direct allegation against Indiabulls.
• Governance: Credit Committee sanctioned loans; chaired by CEO; Sameer Gehlaut not a member; ceased promoter in 2023.
• Indiabulls not involved in PIL; Supreme Court to hear remaining points; exchanges will update under Reg 30.
• FIR 175/25 dated 15.12.2025 registered at Delhi EOW; status report dated 11.08.2026.

Key details

• Target Company: Indiabulls Limited.
• Disclosing Party: ACM Global Fund VCC; not part of promoter/promoter group.
• Transaction Type: Sale of voting rights (disposal of shares).
• Pre-Transaction Holding: 152,574,000 shares; 6.56% voting rights; 6.49% diluted.
• Shares sold: 47,159,801 (2.03%; 2.01% diluted).
• Mode & Date: Open market; 07 July 2026.
• Post-Transaction Holding: 105,414,199 shares; 4.53% voting rights; 4.48% diluted.
• Encumbrances: NIL before and after.
• Equity capital before/after: 2,329,543,602 shares.
• Total diluted post: 2,354,382,138 shares.

Dematerialisation status

• Details of dematerialised/rematerialised securities for quarter ended June 30, 2026 were furnished to all stock exchanges via RTA.
• RTA letters confirming this were dated 01 July 2026.

Resolution details and outcome

• Special resolution for preferential issue of warrants convertible into equity shares totaling INR 1000.07 crore.
• Warrants to promoter group entities and non-promoter group entities; conversion into equal number of equity shares.
• Promoter group entities are participating in the preferential issue.
• Outcome: Scrutinizer's report confirms the resolution passed with requisite majority.

Indiabulls Limited trading window closed from July 1, 2026 till 48 hours after the declaration of unaudited financial results for quarter ending June 30, 2026