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SoftBank, a Japanese conglomerate, has invested Rs 2,800 crore in UK-based Oak North Bank, in which IndiaBulls Housing Finance has a significant stake.
With this investment, the total equity capital of Oak North bank, a British banking start-up, will increase to Rs 7,000 crore.
Apart from IndiaBulls Housing Finance and SoftBank, OakNorth Bank has Clermont, Coltrane, Dascoli, Toscafund and Government of Singapore as other large investors.
IndiaBulls Housing Finance, in October 2015, acquired 40 per cent stake in OakNorth Bank at Rs 650 crore. However, in October 2018, IndiaBulls Housing sold around 16 per cent of its stake in the bank to the
