Indiabulls sponsor unit launches mandatory cash offer for trust
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Singapore
A UNIT of the sponsor of Indiabulls Property Investment Trust (IPIT) has launched a mandatory cash offer for the mainboard-listed business trust, it said in a Singapore Exchange (SGX) filing on Wednesday.
Real estate developer Indiabulls Real Estate's indirect wholly owned subsidiary Grapene Limited, formerly known as Mixtel, is offering S$0.25 cash for each IPIT unit it does not own, Grapene said in a statement.
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