Pls be informed that the board of directors of Indiabulls Real Estate Ltd (the Company) has approved a composite scheme of arrangement amongst the Company, Indiabulls Infrastructure Ltd, a direct subsidiary, and India Land and Properties Ltd, a step down subsidiary owning Chennai Assets (Scheme). The Scheme aims to simplify the corporate structure to facilitate the agreed divestment of Chennai Assets, in tranches, to the entities controlled by the Blackstone Group L.P. (Blackstone). There shall not be any change in the shareholding pattern of the Company, as the Company shall not issue any shares or pay any consideration, pursuant to said Scheme. The Scheme is subject to applicable regulatory and corporate approval(s), including the approvals/ no-objection certificate from stock exchanges, SEBI, NCLT and other authority(ies). The disclosure, in terms of SEBI Listing Regulations read with SEBI Circular No. CIR/CFD/CMD/4/2015 dated September 9, 2015 are attached as Annexure I.