Indiabulls Housing Finance sells further stake in OakNorth for Rs 20 cr

Indiabulls Housing Finance sells further stake in OakNorth for Rs 20 cr

Oct 29, 2020 09:10 IST capital market

Indiabulls Housing Finance has further sold a portion of its stake in OakNorth Holdings (the wholly owning parent company of OakNorth Bank plc) (OakNorth) for approximately Rs 20 crore. The sale proceeds will be accretive to the regulatory net worth and the CRAR of the Company.

With the latest stake sale, the Company has raised a total of Rs 2,513 crore as fresh equity in the month of September and October 2020 (Rs 683 crore through QIP and Rs 1,830 crore through sale of stake in OakNorth) adding to the regulatory equity capital of the Company.

Indiabulls Housing in its category of AA / AA+ rated HFCs/ NBFCs is at the top position for both raising bonds and fresh equity in the current fiscal. The Company has issued bonds of Rs 2,780 crore in the current fiscal till date and has raised Rs 2,513 crore in fresh equity in the current fiscal till date adding to the regulatory equity capital of the Company.

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