By next year, the company will add 75 master distributors taking the total count to 200.
Over the past one year, Nifty has gained 6 per cent, dragged by a fall in the rupee.
Nifty is poised to cross the 12,000 mark according to experts.
There are a few reasons for the valuation gap to narrow.
According to the swap ratio, LVB shareholders will receive 14 shares of Indiabulls Housing for 100 shares they hold in the bank, subject to regulatory approval.
LVB’s stock price on Wednesday was 0.107 times that of IHF.
Year-to-date, however, India’s dollar performance dropped five ranks to 14th in the past one week.
LVB shareholders to get 14 shares of Indiabulls Housing Finance for every 100 shares held.
The two financial institutions, which have been discussing a possible merger for the past few months, are now understood to have reached a stage where a proposal can be formalised for seeking regulatory nod.
The Mumbai-Chennai route reported the highest average rise of 39 per cent.
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