NextBillion Technology Private Limited agreed to acquire Indiabulls Trustee Company Limited and Indiabulls Asset Management Company Limited from Indiabulls Housing Finance Limited (BSE:535789) for INR 1.75 billion on May 10, 2021. The Transaction is subject to regulatory approval and is expected to be concluded on or before June 30, 2022. As of September 9, 2021, the Competition Commission of India (CCI) approved the transaction. Post conclusion of the Transaction NextBillion will cease to hold any equity shares and its sole control over IAMCL and ITCL. Anu Tiwari, Anindita Bhowmik, Ankita Ray, Vidhi Doshi, Mihir Sangani and Charmi Sanghvi of Cyril Amarchand Mangaldas acted as legal and due diligence advisor to NextBillion Technology Private Limited.

NextBillion Technology Private Limited completed the acquisition of Indiabulls Trustee Company Limited and Indiabulls Asset Management Company Limited from Indiabulls Housing Finance Limited (BSE:535789) on May 3, 2023.