Davis Polk advised Indiabulls Housing Finance Limited (IHFL) in connection with its amalgamation with Indiabulls Financial Services Limited and listing of IHFL’s Global Depositary Receipts (GDRs) on the Luxembourg Stock Exchange. The amalgamation was effected pursuant to a scheme of arrangement approved by the High Court of Delhi. The GDRs were issued in reliance on Section 3(a)(10) of the Securities Act of 1933, as amended.

IHFL is India’s third largest housing finance company, with nationwide presence through its network of 200 branches spread across 20 states and union territories. IHFL is part of the Indiabulls Group, one of India’s leading business houses with presence in the power, financial services, real estate and infrastructure sectors. IHFL’s shares are listed on the Bombay Stock Exchange and the National Stock Exchange of India.

The Davis Polk team was led by partner Kirtee Kapoor and included associates Radoslaw Michalak and Amit Kataria. Counsel Catherine L. Martin provided Investment Company Act advice. Members of the Davis Polk team are based in the Hong Kong, London and New York offices.