Indiabulls Housing Finance raises Rs20cr by selling part of its stake in OakNorth Holdings; stock down ~3%

With the latest stake sale, the company has raised a total of Rs2,513cr as fresh equity in the month of September and October 2020.

Oct 29, 2020 11:10 IST India Infoline News Service

Indiabulls Housing Finance
Indiabulls Housing Finance Limited has further sold a portion of its stake in OakNorth Holdings Ltd. (the wholly-owning parent company of OakNorth Bank plc) for ~Rs20cr. 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 Rs2,513cr as fresh equity in the month of September and October 2020 (Rs683cr through QIP and Rs1,830cr through sale of stake in OakNorth) adding to the regulatory equity capital of the company.

At around 11.40 AM, Indiabulls Housing Finance stock is trading at Rs139.20 down by Rs4.1 or 2.86% from its previous closing of Rs143.30  per piece on the BSE. The scrip opened at Rs140.35 and has touched a high and low of Rs141.15 and Rs137.50 respectively. 

“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 Rs2,780cr in the current fiscal till date and has raised Rs2,513cr in fresh equity in the current fiscal till date adding to the regulatory equity capital of the company,” it said in a regulatory filing on Wednesday.

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