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, Indiabulls Housing Finance said. With the latest stake sale, the company has raised a total of Rs 2,577 crore as fresh equity in the month of September, October and November 2020 (Rs 683 crore through QIP and Rs 1,894 crore through sale of stake in OakNorth) adding to the regulatory equity capital of the company, it added.
The announcement was made after market hours yesterday, 4 November 2020. Shares of Indiabulls Housing Finance fell 0.35% to settle at Rs 141.60 yesterday.
Indiabulls Housing Finance is mainly engaged in providing individual housing loans, loans against property (LAP) and project finance for real estate development.
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