Indiabulls Housing stock ends flat as exchanges seek clarification on Oaktree Capital investment buzz

On Sensex, the stock has touched an intraday high and low of Rs235 per piece and Rs227.60 per piece respectively.

Jul 07, 2020 04:07 IST India Infoline News Service

Indiabulls Housing Finance stock witnessed volatility on Tuesday's trading session and ended flat at Rs231.45 per piece on Sensex. On the index, the stock has touched an intraday high and low of Rs235 per piece and Rs227.60 per piece respectively.

The performance in the stock can be attributed to clarification sought by exchanges over a buzz that the company has raised a lump sum from Oaktree Capital.

Both BSE and NSE have sought clarification from Indiabulls Housing with respect to news article appearing on Hindustan Times dated on July 04, 2020, titled, "Indiabulls arm gets Rs2,200crore lifeline from Oaktree Capital".

People familiar with the matter told HT that, the company has raised Rs2,200 crore from Oaktree Capital by pledging a part of its real estate loans to the global stressed assets investor.

Reportedly, the transaction is expected to breathe a fresh lease of life into Indiabulls Housing, which has been in talks with investors for several months. The fresh funds are expected to be used to meet payment obligations.

The reply is yet awaited from the company. 

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