Indiabulls Housing Finance sells further stake in OakNorth for Rs 220 cr

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 220 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 2,493 crore as fresh equity in the month of September and October 2020 (Rs 683 crore through QIP and Rs 1,810 crores through sale of stake in OakNorth) adding to the regulatory equity capital of the Company.

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