Indiabulls Enterprises (Delisted) share price

BSE: 543715Commercial Services & Supplies

Indiabulls Enterprises Limited · Face value ₹2 · Listed Dec 2022

Last traded ₹18.99 on 27 Oct 2025

Delisted on 16 Jan 2026.

Last announcements

The company's own last announcements before its shares stopped trading, routine notices left out.

Oct 2025
- 24 Oct · Suspension of Trading
  Members of the Exchange are hereby informed that the trading in equity shares of Indiabulls Enterprises Limited shall be suspended w.e.f. October 28, 2025 (i.e., closing hours of trading on October 27, 2025) on account of the Scheme of Amalgamation.
- 14 Oct · Business
  Please find attached Intimation pursuant to Regulation30 of SEBI (LODR) Regulations, 2015 regarding effectiveness of the Scheme of Arrangement and fixation of Record Date for issue of Shares ....
- 14 Oct · Business
  Please find attached Intimation pursuant to regulation 30 of SEBI (LODR) Regulations, 2015 regarding effectiveness of the Scheme of Arrangement and fixation of Record Date for issue of ....
- 14 Oct · Updates
  Intimation pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 regarding (a) effectiveness of the Scheme of Arrangement; and (b) fixation of Record Date for issue of shares under the Scheme
- 14 Oct · Corporate action
  Record date for the purpose of Merger/HiveOff is 28-Oct-2025.
- 6 Oct · Updates
  Compliance Status of Regulation 6(1) and 7(1) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, for the quarter ended September 30, 2025

Q1 results, quarter to Jun 2025

Consolidated: the company and its subsidiaries together. ₹ crore.

Revenue: ₹13 Cr−11.6% on a year ago · −1.9% on the quarter before
Operating profit: −₹1.42 Cr
Net profit: −₹5.73 Cr
Earnings per share: −₹0.29
Operating margin: −10.8%
Net margin: −43.5%

From revenue to net profit, ₹ crore

Revenue13
Materials and goods−5.0
Employee costs−4.2
Other expenses−5.4
Operating profit−1.4
Depreciation−3.8
Other income+2.3
Finance costs−2.9
Profit before tax−5.8
Tax0.0
Discontinued businesses+0.1
Net profit−5.7

Indiabulls Enterprises results by quarter

Consolidated: the company and its subsidiaries together. Latest quarter to Jun 2025. Results for the quarter to Sep 2025 were due by 14 Nov 2025, 45 days after it ends. Every company's dates are on the results calendar.

Revenue and net profit by quarter, ₹ crore

Revenue
Net profit
Loss

A loss in 10 of the 11 quarters shown

Operating and net margin by quarter, per cent

Operating margin
Net margin

₹ crore	Dec 2022Q3	Mar 2023	Jun 2023Q1Filed 11 Aug	Sep 2023	Dec 2023Q3	Mar 2024	Jun 2024Q1	Sep 2024Filed 8 Nov	Dec 2024Q3	Mar 2025Q4	Jun 2025Q1
Revenue from operations	17	16	15	12	15	13	15	13	13	13	13
	16	14	10	10	12	28	14	23	11	129	15
Materials and goods bought	10	6	6	5	5	5	6	6	5	5	5
Employee costs	4	2	2	2	2	3	2	2	2	4	4
Other expenses	2	6	2	3	4	20	6	15	4	119	5
Operating profit before depreciation	1	2	5	2	3	−14	1	−9	2	−116	−1
Operating margin	4.6%	14.4%	34.3%	13.4%	22.4%	−107.4%	7.1%	−71.5%	15.2%	−861.5%	−10.8%
Depreciation and amortisation	5	5	5	5	5	4	4	4	4	4	4
Other income	8	2	1	2	1	1	1	1	0	2	2
Finance costs	2	1	2	1	1	1	1	1	1	2	3
Profit before one-off items and tax	2	−2	0	−3	−2	−19	−3	−13	−2	−119	−6
One-off items	0	−9	0	0	0	0	0	0	0	0	0
Profit before tax	2	−11	0	−3	−2	−19	−3	−13	−2	−119	−6
	1	0	1	1	1	0	0	−1	0	0	0
Current tax	1	−1	1	1	1	0	1	−1	0	0	0
Deferred tax	0	0	0	−1	0	0	0	0	0	0	0
Tax rate	33.8%	–	–	–	–	–	–	–	–	–	–
Profit from discontinued businesses	–	−1	0	0	0	0	0	1	0	0	0
Net profit	2	−12	−1	−4	−2	−18	−3	−12	−2	−119	−6
Other comprehensive income	0	0	0	0	0	−1	0	−300	0	0	0
Total comprehensive income	1	−12	−1	−3	−2	−19	−3	−312	−2	−119	−6
Net margin	8.9%	−73.5%	–	−32.6%	–	−136.6%	−22.8%	−90.4%	−16.0%	−887.6%	−43.5%
Earnings per share	₹0.08	−₹0.60	−₹0.06	−₹0.20	−₹0.09	−₹0.93	−₹0.17	−₹0.60	−₹0.10	−₹6.01	−₹0.29

Earnings per share in rupees, restated for later splits and bonuses. Net margin is left blank for Jun 2023 and Dec 2023: the profit includes the result of a business the company has discontinued, which the revenue does not, so the two make no margin.

The quarters either side of a change of basis do not compare. From the quarter to Jun 2023, the company reports a discontinued business.

Segment results by quarter

Consolidated, ₹ crore, quarters to Jun 2025.

Equipment renting services
Revenue, ₹ crore
13
12
13
10
14
12
13
12
12
12
11
Dec 22Mar 23Jun 23Sep 23Dec 23Mar 24Jun 24Sep 24Dec 24Mar 25Jun 25
Profit, ₹ crore
1
−10
1
0
−2
−14
−2
−1
3
−5
0
Dec 22Mar 23Jun 23Sep 23Dec 23Mar 24Jun 24Sep 24Dec 24Mar 25Jun 25
Financing and related activities
Revenue, ₹ crore
2
2
2
2
2
2
2
1
1
1
4
Dec 22Mar 23Jun 23Sep 23Dec 23Mar 24Jun 24Sep 24Dec 24Mar 25Jun 25
Profit, ₹ crore
−3
1
0
−1
−1
−2
−1
−10
−2
−1
0
Dec 22Mar 23Jun 23Sep 23Dec 23Mar 24Jun 24Sep 24Dec 24Mar 25Jun 25
Real Estate development and related activities
Revenue, ₹ crore
0
0
Dec 22Mar 23Jun 23Sep 23Dec 23Mar 24Jun 24Sep 24Dec 24Mar 25Jun 25
Profit, ₹ crore
−115
−5
Dec 22Mar 23Jun 23Sep 23Dec 23Mar 24Jun 24Sep 24Dec 24Mar 25Jun 25
Discontinued operations
Revenue, ₹ crore
0
0
0
0
0
0
0
Dec 22Mar 23Jun 23Sep 23Dec 23Mar 24Jun 24Sep 24Dec 24Mar 25Jun 25
Profit, ₹ crore
0
0
0
0
1
0
0
Dec 22Mar 23Jun 23Sep 23Dec 23Mar 24Jun 24Sep 24Dec 24Mar 25Jun 25

₹ crore	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025
Revenue of all businesses	17	16	15	12	15	14	15	13	13	13	14
Company revenue, as in its results	17	16	15	12	15	13	15	13	13	13	13
Revenue	13	12	13	10	14	12	13	12	12	12	11
Revenue growth	–	–	–	–	–	–	3.2%	16.9%	−10.9%	3.5%	−19.6%
Profit	1	−10	1	0	−2	−14	−2	−1	3	−5	0
Margin	3.8%	−84.3%	8.5%	0.7%	−14.3%	−120.2%	−14.5%	−11.8%	21.0%	−42.5%	0.4%
Assets	161	137	138	132	130	106	103	99	95	90	90
Liabilities	15	14	15	12	11	8	8	6	5	5	6
Capital employed	146	123	123	120	119	99	95	92	90	85	84
Revenue	2	2	2	2	2	2	2	1	1	1	4
Revenue growth	–	–	–	–	–	–	−25.9%	−32.3%	−16.0%	−26.2%	125.6%
Profit	−3	1	0	−1	−1	−2	−1	−10	−2	−1	0
Margin	−185.8%	42.3%	−17.1%	−67.1%	−34.0%	−106.7%	−31.3%	−897.3%	−178.6%	−49.6%	10.5%
Assets	78	92	67	64	61	61	58	44	45	74	113
Liabilities	61	58	30	33	31	32	28	25	26	25	23
Capital employed	17	34	36	31	30	29	30	19	18	50	89
	–	–	–	–	–	–	–	–	–	0	0
Profit	–	–	–	–	–	–	–	–	–	−115	−5
Assets	–	–	–	–	–	–	–	–	–	80	130
Liabilities	–	–	–	–	–	–	–	–	–	163	230
Capital employed	–	–	–	–	–	–	–	–	–	−84	−100
Revenue	–	–	–	0	0	0	0	0	0	–	0
Profit	–	–	–	0	0	0	0	1	0	–	0
Margin	–	–	–	–	–	369.2%	–	–	–	–	–
Assets	–	–	–	2	1	0	0	0	0	–	0
Liabilities	–	–	–	7	2	1	1	0	0	–	0
Capital employed	–	–	–	−5	−1	−1	−1	0	0	–	0
	0	–	–	–	–	–	0	0	0	–	–
Profit	0	–	–	–	–	–	0	0	0	–	–
Assets	1	–	–	–	–	–	3	3	3	–	–
Liabilities	1	–	–	–	–	–	1	1	1	–	–
Capital employed	1	–	–	–	–	–	2	3	3	–	–
Revenue	1	2	0	0	0	0	–	–	–	–	–
Profit	6	−7	−1	1	0	0	–	–	–	–	–
Margin	644.7%	−453.4%	–	–	–	–	–	–	–	–	–
Assets	6	82	5	4	4	3	–	–	–	–	–
Liabilities	3	1	1	1	1	1	–	–	–	–	–
Capital employed	2	81	3	3	2	2	–	–	–	–	–
Revenue	1	–	–	–	–	–	–	–	–	–	–
Profit	−4	–	–	–	–	–	–	–	–	–	–
Margin	−286.5%	–	–	–	–	–	–	–	–	–	–
Assets	7	–	–	–	–	–	–	–	–	–	–
Liabilities	13	–	–	–	–	–	–	–	–	–	–
Capital employed	−7	–	–	–	–	–	–	–	–	–	–
	0	–	–	–	–	–	–	–	–	–	–
Profit	−46	–	–	–	–	–	–	–	–	–	–
Assets	2	–	–	–	–	–	–	–	–	–	–
Liabilities	5	–	–	–	–	–	–	–	–	–	–
Capital employed	−3	–	–	–	–	–	–	–	–	–	–

Profit is before tax and finance costs, the way companies report their segments.

3 years at a glance

Consolidated: the company and its subsidiaries together. ₹ crore, years to March.

Revenue, net profit and borrowings, ₹ crore

Revenue
Net profit
Borrowings
Loss

Peak revenue ₹82 Cr, year to Mar 2023; lowest ₹55 Cr, year to Mar 2025A loss in 2 of the 3 years shown

Operating and net margin, per cent

Results for the year to Mar 2025

Consolidated: the company and its subsidiaries together. ₹ crore.

From revenue to net profit

Revenue55
Materials and goods−22
Employee costs−11
Other expenses−144
Operating profit−122
Depreciation−16
Other income+3.8
One-off items0.0
Finance costs−4.1
Profit before tax−138
Tax+0.3
Discontinued businesses+0.9
Net profit−137

What the company owns

Plant, investments and other assets₹230 Cr
Cash and bank₹17 Cr
Receivables₹15 Cr
Current investments₹10 Cr
Inventory₹4 Cr

What pays for it: net worth and liabilities

Borrowings₹291 Cr
Owed to suppliers₹3 Cr

Indiabulls Enterprises business segments, year to Mar 2025

A reportable segment is a line of business the company must report on its own. Consolidated, ₹ crore, as the company reports them. A segment at a loss has no share of profit.

Revenue by segment

₹55 CrTotal

Equipment renting services₹49.7 Cr90.5% of total
Financing and related activities₹5.2 Cr9.5% of total

Segment results by year

Consolidated, ₹ crore, years to March.

Equipment renting services
Revenue, ₹ crore
54
49
50
Mar 23Mar 24Mar 25
Profit, ₹ crore
−8
−15
−6
Mar 23Mar 24Mar 25
Financing and related activities
Revenue, ₹ crore
7
7
5
Mar 23Mar 24Mar 25
Profit, ₹ crore
−2
−4
−13
Mar 23Mar 24Mar 25
Real Estate development and related activities
Revenue, ₹ crore
0
Mar 23Mar 24Mar 25
Profit, ₹ crore
−115
Mar 23Mar 24Mar 25

₹ crore	Mar 2023	Mar 2024	Mar 2025
Revenue of all businesses	82	56	55
Company revenue, as in its results	82	56	55
Revenue	54	49	50
Revenue growth	–	−10.5%	2.3%
Profit	−8	−15	−6
Margin	−15.6%	−30.8%	−12.1%
Return on capital	−6.9%	−15.2%	−7.1%
Assets	137	106	90
Liabilities	14	8	5
Capital employed	123	99	85
Revenue	7	7	5
Revenue growth	–	−1.3%	−25.4%
Profit	−2	−4	−13
Margin	−30.6%	−53.8%	−259.4%
Return on capital	−6.4%	−13.2%	−27.2%
Assets	92	61	74
Liabilities	58	32	25
Capital employed	34	29	50
	–	–	0
Profit	–	–	−115
Assets	–	–	80
Liabilities	–	–	163
Capital employed	–	–	−84
Revenue	–	0	–
Profit	–	2	–
Margin	–	9,550.0%	–
Assets	–	0	–
Liabilities	–	1	–
Capital employed	–	−1	–
Revenue	21	0	–
Revenue growth	–	−100.0%	–
Profit	6	0	–
Profit growth	–	−100.0%	–
Margin	29.3%	–	–
Return on capital	7.5%	0.0%	–
Assets	82	3	–
Liabilities	1	1	–
Capital employed	81	2	–

Profit is before tax and finance costs, the way companies report their segments.

Profit and loss

Consolidated, ₹ crore, years to March. The last column is the twelve months to Jun 2025, the latest four quarters added.

₹ crore	Mar 2023	Mar 2024	Mar 2025	Jun 2025Twelve months
Revenue from operations	82	56	55	53
	49	60	177	178
Materials and goods bought	26	22	22	22
Employee costs	10	9	11	13
Other expenses	12	29	144	143
Operating profit before depreciation	33	−4	−122	−124
Operating margin	40.1%	−7.8%	−222.3%	−234.2%
Materials, % of revenue	32.2%	39.8%	40.8%	40.5%
Employee costs, % of revenue	12.8%	15.5%	19.4%	24.1%
Other expenses, % of revenue	14.9%	52.5%	262.2%	269.6%
Depreciation and amortisation	20	19	16	16
Operating profit after depreciation	13	−24	−138	−140
Other income	6	3	4	5
Finance costs	5	5	4	6
Profit before one-off items and tax	15	−25	−138	−141
One-off items	−9	0	0	0
Profit before tax	6	−25	−138	−141
	3	2	0	−1
Current tax	4	3	0	−1
Deferred tax	−1	−1	0	0
Profit from discontinued businesses	2	2	1	1
Net profit	4	−25	−137	−139
Other comprehensive income	0	0	−300	−300
Total comprehensive income	5	−25	−437	−439
Net margin	–	−45.5%	−249.0%	−261.5%

Net margin is left blank for the year to Mar 2023: the profit includes the result of a business the company has discontinued, which the revenue does not, so the two make no margin.

Balance sheet

Consolidated, ₹ crore, at 31 March.

₹ crore	Mar 2023	Mar 2024	Mar 2025
	271	246	−191
Share capital	40	40	40
Reserves	231	206	−231
	56	251	291
Repayable after a year	52	27	68
Repayable within a year	4	224	223
	29	251	395
Trade payables	7	3	3
Other financial liabilities	13	18	109
Other liabilities	2	2	60
Provisions	0	0	0
Tax owed	2	4	0
	54	28	73
Other financial liabilities	2	0	2
Provisions	0	1	2
Deferred tax	0	0	0
Liabilities going with businesses held for sale	8	1	0
	362	526	277
Held for sale or for a demerger	3	0	1
	176	134	178
Plant in use, after depreciation	107	86	76
Intangible assets	1	0	0
Goodwill	1	1	1
Loans given	53	38	51
Other financial assets	1	0	40
Deferred tax	0	1	2
Other assets	12	8	8
	183	391	98
Inventories	1	1	4
Trade receivables	31	19	15
Cash and cash equivalents	11	7	17
Other bank balances	1	1	1
Current investments	18	19	10
Loans given	25	17	9
Other financial assets	83	304	20
Other assets	12	23	23
Net debt	27	224	264

Borrowings are counted again inside the liabilities due within a year and after a year.

Cash flow

Consolidated, ₹ crore, years to March.

₹ crore	Mar 2023	Mar 2024	Mar 2025
	233	39	34
	222	38	33
	192	22	135
Receivables	39	2	−8
Inventories	17	1	−3
Payables	−47	−4	0
Other working capital	183	24	147
Tax paid	7	2	−4
Interest paid	−5	0	0
Capital spending	2	16	15
Free cash flow	231	24	19
	5	−9	−60
Plant and property sold	2	7	4
Interest received	0	0	0
	−234	−34	35
Borrowings raised	0	−31	48
Borrowings repaid	−226	0	−7
Interest paid	−8	−3	−4
Lease payments	−1	0	−1
Dividends paid	0	0	0
Shares bought back	0	0	0
Shares issued	0	0	0
Net change in cash	4	−4	10

Capital spending is part of cash from investing, and dividends paid, shares bought back and shares issued are part of cash from financing. Each is shown as an amount on a line of its own, and the section's other items are in its total only.

Consolidated, ₹ per share, years to March.

₹ per share	Mar 2023	Mar 2024	Mar 2025
Earnings per share	₹0.20	−₹1.27	−₹6.89
Diluted earnings per share	₹0.20	−₹1.27	−₹6.89
Book value per share	₹13.67	₹12.39	−₹9.64
Shareholder yield	0.0%	0.0%	0.0%
Market cap at the year end (₹ crore)	160	202	299

Ratios

Consolidated, years to March.

Ratio	Mar 2023	Mar 2024	Mar 2025
Revenue growth	–	−32.3%	−1.2%
	1.5%	−9.8%	−500.8%
	–	−11.3 pts	−491.0 pts
From the net margin	–	–	−43.7 pts
From asset turnover	–	–	−5.0 pts
From borrowing	–	–	−442.3 pts
Return on capital employed	4.0%	−4.8%	−137.2%
Cash conversion	5,641.2%	–	–
Interest cover	2.9	–	–
Debt to equity	0.21	1.02	–
Receivable days	139	125	102
Inventory days	13	10	65
Payable days	94	50	48
Cash conversion cycle, days	59	86	119
Working capital days	573	2,215	−673
Asset turnover	0.23	0.13	0.14
Assets per rupee of net worth	1.34	1.72	14.71
Sales per rupee of plant	0.76	0.65	0.72
Capital spending to depreciation	0.09	0.81	0.94
Plant being built, % of plant in use	0.0%	0.0%	0.0%

Interest cover is left blank for the years to Mar 2024 and Mar 2025: operating profit after depreciation is a loss, and a loss covers no interest bill. From the net margin, from asset turnover and from borrowing are left blank for the year to Mar 2024: the profit of this year or the year before includes a business the company has discontinued while its revenue does not, so the change in return on equity is not split into margin, turnover and borrowing. Debt to equity is left blank for the year to Mar 2025: net worth is below zero, so there is no shareholders' money to set the borrowings against.

Growth and returns over 3, 5 and 10 years

Consolidated: the company and its subsidiaries together. Each window ends with the year to Mar 2025.

Return on assets, latest year: −34.0%

Measure	3 years
Return on equity, average	−169.7%
Return on capital employed, average	−46.0%
Operating margin, average	−63.3%
Net margin, average	−147.2%
Asset turnover, average	0.16
Cash conversion cycle, days, average	88
Debt to equity, average	0.62

Where the cash came from and went

Consolidated: the company and its subsidiaries together. ₹ crore, added up over each window, which ends with the year to Mar 2025.

₹ crore	3 years	Latest year
Cash from operations	306	34
Cash from investing	−63	−60
Cash from financing	−233	35
Capital spending	32	15
Dividends paid	0	0
Shares bought back	0	0
Shares issued for cash	0	0
Borrowings raised	–	48
Borrowings repaid	233	7

Accounting checks

Consolidated, years to March. Published tests of whether reported profit is backed by cash and the balance sheet.

Check	Mar 2023	Mar 2024	Mar 2025
Piotroski score, out of 9Published threshold 3 points out of 9	–	–	3
Altman Z-scorePublished threshold 1.1	8.20	3.69	−13.43
Beneish M-scorePublished threshold −1.78	–	−4.87	−5.39
Profit not backed by cash, % of assetsPublished threshold 10 per cent of average total assets	–	−12.63	−27.64
Receivables growth less revenue growthOur threshold 0 percentage points	–	−6.92	−18.14
Inventory growth less cost-of-goods growthOur threshold 0 percentage points	–	−20.14	551.24
Other current assets growth less revenue growthOur threshold 5 per cent of revenue	–	417.86	−519.87
Assets under construction, years of additionsOur threshold 2 years of additions	–	–	0.00
Effective tax ratePublished threshold 17.16 per cent	60.81	–	–
Tax charged less tax paid, % of profitOur threshold 10 percentage points	−54.66	–	–

A threshold marked as ours has no published figure; it is the line we read the check against.

Where the return came from

Yearly rates to Mar 2025, per-share figures restated for splits and bonuses.

Over	Return a year	Earnings growth	Change in P/E	Dividend yield
1 year	+47.6%	–	–	0.0%

Return is price growth plus the average dividend yield. Change in P/E is (1 + price growth) / (1 + earnings growth) - 1, so the parts compound rather than add. Earnings growth and the change in P/E are left empty where earnings per share at either end of the window was a loss or is not on record.

Who owns Indiabulls Enterprises, filing by filing

Per cent of the company's shares. Every filing on record, from Dec 2022; the latest is the filing for Sep 2025.

Sep 2025 filing

Promoters36.32%
Foreign institutions0.24%
Indian institutionsNone
GovernmentsNone
Individuals and others62.56%
Employee trusts0.88%

Shareholding pattern, per cent

Promoters
Foreign institutions
Indian institutions
Governments
Individuals and others
Employee trusts

Per cent	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025
	60.97%	60.97%	60.97%	60.97%	60.97%	60.97%	60.97%	60.97%	43.88%	36.32%	36.32%	36.32%
Indian promoters	60.97%	60.97%	60.97%	60.97%	60.97%	60.97%	60.97%	60.97%	43.80%	36.24%	36.24%	36.24%
Foreign promoters	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.08%	0.08%	0.08%	0.08%
	38.14%	38.14%	38.14%	38.14%	38.14%	38.14%	38.14%	38.14%	55.24%	62.80%	62.80%	62.80%
	6.83%	6.55%	6.16%	5.64%	5.65%	5.66%	5.59%	0.17%	17.23%	0.03%	0.07%	0.24%
Foreign portfolio investors, category I	6.75%	6.47%	6.09%	5.56%	5.65%	5.66%	5.59%	0.17%	17.23%	0.03%	0.07%	0.24%
Foreign portfolio investors, category II	0.08%	0.08%	0.08%	0.08%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	–	–
	Under 0.01%	Under 0.01%	Under 0.01%	Under 0.01%	Under 0.01%	Under 0.01%	Under 0.01%	Under 0.01%	Under 0.01%	Under 0.01%	Under 0.01%	Under 0.01%
Banks	Under 0.01%	Under 0.01%	Under 0.01%	Under 0.01%	Under 0.01%	Under 0.01%	Under 0.01%	Under 0.01%	Under 0.01%	Under 0.01%	Under 0.01%	Under 0.01%
Non-bank lenders registered with RBI	Under 0.01%	Under 0.01%	Under 0.01%	Under 0.01%	Under 0.01%	Under 0.01%	Under 0.01%	Under 0.01%	Under 0.01%	Under 0.01%	Under 0.01%	Under 0.01%
Other financial institutions	Under 0.01%	Under 0.01%	Under 0.01%	Under 0.01%	Under 0.01%	Under 0.01%	Under 0.01%	Under 0.01%	Under 0.01%	Under 0.01%	Under 0.01%	Under 0.01%
	Under 0.01%	Under 0.01%	Under 0.01%	Under 0.01%	Under 0.01%	Under 0.01%	Under 0.01%	Under 0.01%	Under 0.01%	Under 0.01%	Under 0.01%	Under 0.01%
Government-promoted companies	–	–	–	–	–	–	–	–	–	–	Under 0.01%	Under 0.01%
Government-promoted companies	Under 0.01%	Under 0.01%	Under 0.01%	Under 0.01%	Under 0.01%	Under 0.01%	Under 0.01%	Under 0.01%	Under 0.01%	Under 0.01%	–	–
	31.32%	31.60%	31.98%	32.50%	32.50%	32.48%	32.55%	37.98%	38.00%	62.77%	62.73%	62.56%
Resident individuals, up to ₹2 lakh at face value	14.42%	19.32%	19.25%	18.41%	18.61%	18.89%	18.69%	19.87%	17.87%	17.51%	16.58%	16.91%
Resident individuals, over ₹2 lakh at face value	10.83%	6.37%	6.75%	6.05%	5.29%	5.15%	5.13%	9.14%	9.74%	10.92%	10.62%	11.18%
Companies	3.34%	2.60%	2.50%	2.35%	2.28%	1.86%	2.03%	2.10%	3.48%	2.95%	5.70%	6.92%
Non-resident Indians	1.68%	2.35%	2.57%	4.82%	5.42%	5.66%	5.81%	5.88%	5.79%	5.64%	4.07%	1.58%
Foreign nationals	0.00%	0.00%	0.00%	0.00%	0.00%	Under 0.01%	0.00%	0.00%	0.00%	0.00%	–	–
Foreign companies	Under 0.01%	Under 0.01%	Under 0.01%	Under 0.01%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	–	–
Investor education fund	0.02%	0.02%	0.02%	0.02%	0.02%	0.02%	0.02%	0.02%	0.02%	0.02%	0.02%	0.02%
Directors and their relatives	Under 0.01%	Under 0.01%	Under 0.01%	Under 0.01%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	–	–
Key managers	Under 0.01%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	Under 0.01%	Under 0.01%	Under 0.01%	Under 0.01%	Under 0.01%
	1.03%	0.93%	0.89%	0.86%	0.88%	0.89%	0.87%	0.98%	1.11%	25.73%	25.73%	25.95%
Unclaimed or Suspense or Escrow Account	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%
Trusts	Under 0.01%	Under 0.01%	Under 0.01%	Under 0.01%	Under 0.01%	Under 0.01%	Under 0.01%	Under 0.01%	Under 0.01%	Under 0.01%	Under 0.01%	Under 0.01%
Hindu undivided families	0.87%	0.86%	0.87%	0.84%	0.86%	0.87%	0.85%	0.96%	1.09%	1.06%	1.06%	1.28%
Clearing Members	0.15%	0.06%	Under 0.01%	Under 0.01%	Under 0.01%	Under 0.01%	Under 0.01%	Under 0.01%	Under 0.01%	Under 0.01%	Under 0.01%	Under 0.01%
Others	–	–	–	–	–	–	–	–	–	24.66%	–	–
Acm global fund vcc	–	–	–	–	–	–	–	–	–	–	24.66%	24.66%
Employee trusts	0.88%	0.88%	0.88%	0.88%	0.88%	0.88%	0.88%	0.88%	0.88%	0.88%	0.88%	0.88%
Shares in issue	19,83,36,997	19,83,36,997	19,83,36,997	19,83,36,997	19,83,36,997	19,83,36,997	19,83,36,997	19,83,36,997	19,83,36,997	19,83,36,997	19,83,36,997	19,83,36,997

A dash is a line the filing did not state. “Under 0.01%” is a holding of shares too small to show at two decimals.

Number of Indiabulls Enterprises shareholders

Shareholders on the company's register in each filing.

Shareholders, filing by filing

Shareholders	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025
All shareholders	65,500	68,270	67,092	65,781	68,370	71,953	72,356	73,385	73,994	74,256	73,438	72,389
	8	8	8	8	8	8	8	8	7	7	4	4
Indian promoters	8	8	8	8	8	8	8	8	6	6	3	3
Foreign promoters	0	0	0	0	0	0	0	0	1	1	1	1
	65,491	68,261	67,083	65,772	68,361	71,944	72,347	73,376	73,986	74,248	73,433	72,384
	11	11	9	8	9	9	7	6	6	5	6	6
Foreign portfolio investors, category I	10	10	8	7	9	9	7	6	6	5	6	6
Foreign portfolio investors, category II	1	1	1	1	0	0	0	0	0	0	–	–
	4	4	4	4	4	4	4	4	4	4	4	4
Banks	2	2	2	2	2	2	2	2	2	2	2	2
Non-bank lenders registered with RBI	1	1	1	1	1	1	1	1	1	1	1	1
Other financial institutions	1	1	1	1	1	1	1	1	1	1	1	1
	1	1	1	1	1	1	1	1	1	1	1	1
Government-promoted companies	–	–	–	–	–	–	–	–	–	–	1	1
Government-promoted companies	1	1	1	1	1	1	1	1	1	1	–	–
	65,475	68,245	67,069	65,759	68,347	71,930	72,335	73,365	73,975	74,238	73,422	72,373
Resident individuals, up to ₹2 lakh at face value	62,988	65,730	64,595	63,316	65,928	69,549	69,989	70,979	71,613	71,879	71,114	70,078
Resident individuals, over ₹2 lakh at face value	40	46	50	45	39	38	42	58	56	62	58	60
Companies	416	412	399	382	376	367	358	363	375	363	359	355
Non-resident Indians	728	744	749	760	770	773	772	779	787	802	793	797
Foreign nationals	0	0	0	0	0	1	0	0	0	0	–	–
Foreign companies	1	1	1	1	0	0	0	0	0	0	–	–
Investor education fund	1	1	1	1	1	1	1	1	1	1	1	1
Directors and their relatives	1	1	1	1	0	0	0	0	0	0	–	–
Key managers	1	1	0	0	0	0	0	1	1	1	1	1
	1,299	1,309	1,273	1,253	1,233	1,201	1,173	1,184	1,142	1,130	1,096	1,081
Unclaimed or Suspense or Escrow Account	1	1	1	1	1	1	1	1	1	1	1	1
Trusts	3	3	4	3	3	3	3	3	3	3	3	3
Hindu undivided families	1,244	1,274	1,263	1,244	1,224	1,190	1,163	1,174	1,133	1,120	1,086	1,071
Clearing Members	51	31	5	5	5	7	6	6	5	5	5	5
Others	–	–	–	–	–	–	–	–	–	1	–	–
Acm global fund vcc	–	–	–	–	–	–	–	–	–	–	1	1
Employee trusts	1	1	1	1	1	1	1	1	1	1	1	1

A dash is a line the filing did not state.

Indiabulls Enterprises promoters

Promoters are the founders, families and companies that control the company, as its filings name them. Every member of the promoter group holding shares in the filing for Sep 2025; the largest is VALERIAN REAL ESTATE PRIVATE LIMITED, 15.96%. The filing names 9 more members with no shares.

Holder
VALERIAN REAL ESTATE PRIVATE LIMITEDIndian companies, trusts and others	15.96%	3,16,62,575
INUUS DEVELOPERS PRIVATE LIMITEDIndian companies, trusts and others	15.96%	3,16,62,575
KRITIKKA INFRASTRUCTURE PRIVATE LIMITEDIndian companies, trusts and others	4.31%	85,53,576
Sameer GehlautNon-resident and foreign individuals	0.08%	1,50,000

No promoter shares are reported as pledged.

Largest public holders of Indiabulls Enterprises, filing by filing

Per cent, on the same shares as the split above.

Holder	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025
CAPRI GLOBAL HOLDINGS PRIVATE LIMITEDCompanies	–	–	–	–	–	–	–	–	–	–	2.22%	2.43%
VANDANA ASHWINI KUMARResident individuals, over ₹2 lakh at face value	–	–	–	–	–	–	–	–	–	–	–	1.20%
RISHIKESH PARTHASARATHINon-resident Indians	–	1.44%	1.71%	–	4.54%	4.84%	4.94%	4.98%	4.98%	4.85%	3.29%	–
ACM GLOBAL FUND VCCForeign portfolio investors, category I	–	–	–	–	–	–	–	–	17.09%	–	–	–
STEADVIEW CAPITAL MAURITIUS LIMITEDForeign portfolio investors, category I	5.75%	5.54%	5.54%	5.54%	5.54%	5.54%	5.45%	–	–	–	–	–
NIKHIL RAJGOPALA CHARIResident individuals, over ₹2 lakh at face value	6.49%	–	–	–	–	–	–	–	–	–	–	–

A filing names every holder above one per cent, in the company's own words: an insurer's holding can carry one of its funds' names. A dash is a filing that did not name the holder, which includes holding under one per cent.

Who moved in the Sep 2025 filing

Against the Jun 2025 filing. A filing names a public holder only at 1% or more, so a holder no longer named fell under 1% or sold out.

Individuals and others: RISHIKESH PARTHASARATHI no longer named, from 3.29%; VANDANA ASHWINI KUMAR newly named at 1.20%; CAPRI GLOBAL HOLDINGS PRIVATE LIMITED 2.43%, +0.21 pts

Indiabulls Enterprises share price by year

Each calendar year to 2025.

Year	Close at year end	Change	Highest close	Lowest close
2025	18.99	−2.9%	25.38	14.26
2024	19.55	+85.3%	24.51	9.83
2023	10.55	−31.5%	24.60	7.65
2022	15.40	–	16.20	14.80

₹ per share, adjusted for splits and bonuses since. Change is on the close at the end of the year before. 2022 is from its first session, 27 Dec 2022. The 2025 close is its last trade, on 27 Oct 2025.

Recent sessions

The 10 trading days to 27 Oct 2025, as traded on BSE.

Date	Open	High	Low	Close	Average price	Volume
27 Oct 2025	21.84	21.84	18.12	18.99	19.12	10,88,087
24 Oct 2025	21.50	21.50	19.95	20.14	20.76	1,23,578
23 Oct 2025	19.80	20.89	19.65	20.50	20.41	1,74,490
21 Oct 2025	19.50	20.25	19.50	19.90	19.80	38,992
20 Oct 2025	20.60	20.90	19.31	19.50	19.69	1,00,199
17 Oct 2025	19.80	20.67	19.72	20.31	20.35	3,25,890
16 Oct 2025	18.98	19.71	18.50	19.69	19.31	3,05,674
15 Oct 2025	17.60	18.78	17.20	18.78	17.86	4,38,986
14 Oct 2025	18.84	19.15	17.89	17.89	17.98	3,23,629
13 Oct 2025	19.01	19.55	18.76	18.84	19.03	91,452

Prices in ₹ per share as traded, not adjusted.

Company details

BSE code: 543715
ISIN: INE059901020
Industry: Commercial Services & Supplies
Former symbols: IEL
Website: www.indiabullsenterprises.com
CIN: L71290HR2019PLC077579; Corporate identity number, the registrar of companies' code for it
Incorporated: 2019
Registered office: Plot No. 108, IT Park, 5th floor, Udyog Vihar, Phase 1, Gurugram 122016, Haryana
Share registrar: KFin Technologies Ltd; Keeps the register of shareholders and handles transfers and dividend payments