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Sunday, Dec 05, 2021
Outlook.com
Column

Biztro

Business in bitesizes

Biztro
Biztro
outlookindia.com
-0001-11-30T00:00:00+05:53

1. What’s brewing at Indiabulls?

Led by three friends from IIT Delhi, it has been one of India Inc’s biggest success stories, growing to a Rs 20,600-crore group in 15 years flat. But earlier this month, it took just a single shareholder’s motion to split the brokerage-to-housing finance-to-power conglomerate Indiabulls. Although the split is said to be amicable, eyebrows have been raised. The company’s juicy housing finance, real estate and securities business (accounting for a majority of the group’s worth) goes to Sanjeev Gehlaut. The holdings of Indiabulls’s other two partners, Rajiv Rattan and Saurabh Mittal, will be restricted to the group’s power business (this accounts for just 20 per cent of the group’s business). The identity of the sharehol­der who proposed the split is not public.

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