You are here: Home » News-CM » Equities » Hot Pursuit
Business Standard

Indiabulls Housing Finance offloads stake held in OakNorth Holdings for Rs 251 cr

Capital Market 

Indiabulls Housing Finance sold a portion of its stake in OakNorth Holdings, a wholly-owned parent company of OakNorth Bank PLC, for approximately Rs 251 crore.

As per the company's press statement, the sale proceeds will be accretive to the regulatory net worth and the capital-to-risk weighted assets ratio (CRAR) of the company and will be added to the regulatory equity capital of the company.

Indiabulls Housing Finance's consolidated net profit rose 3.2% to Rs 281.69 crore on a 9.4% decline in net sales to Rs 2,325.75 crore in Q1 FY22 over Q1 FY21.

Shares of Indiabulls Housing Finance shed 1.76% to Rs 225.70 on Friday. Indiabulls Housing Finance provides home loans and loans to small business owners.

Powered by Capital Market - Live News

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Sat, September 25 2021. 13:03 IST