The Board of City of Yaari Digital Integrated Services Limited (NSEI:YAARI) announced the spin-off of Indiabulls Enterprises Limited (NSEI : IEL) on July 22, 2022. As per the transaction, distribution ratio shall be 1 Indiabulls Enterprises Limited Share for every 1 ordinary share held by shareholders of Yaari Digital Integrated Services Limited on the record date of August 26, 2022. As on August 19, 2022, the record date for the transaction is revised to September 2, 2022.

The transaction is subject to regulatory approvals.