Indiabulls Real Estate mulls revamp of wholesale biz

Indiabulls Real Estate is considering restructuring of its wholesale trading business. The company has already appointed an advisor for the same, said the company in a filing to the Bombay Stock Exchange. Indiabulls Real Estate is considering demerger, of the undertakings, business, activities and operations of the company pertaining to its wholesale trading, including its shareholding in Indiabulls Wholesale Services, a wholly owned subsidiary of the company. The restructuring is expected to unlock value and also streamline the operations and ownership structure of the company. The Board has also decided to convene an extra ordinary general meeting (EGM) of the members of the Company, on March 12, 2010, to seek their approval.