Indiabulls Housing Finance sells further stake in OakNorth for Rs 64 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 64 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 2,577 crores as fresh equity in the month of September, October and November 2020 (Rs 683 crores through QIP and Rs 1,894 crores through sale of stake in OakNorth) adding to the regulatory equity capital of the Company.

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