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Softbank invests Rs 2,800 cr in Indiabulls Housing Fin's associate OakNorth

Press Trust of India  |  New Delhi 

Housing Friday said Japan's is investing Rs 2,800 crore of equity capital in its associate OakNorth, a commercial in the UK.

"With this investment, the total equity capital in the will be Rs 7,000 crore," Housing said in a regulatory filing.

Housing said is the fastest growing new in Europe, leveraging for fast and efficient disbursals to the small and medium-sized enterprises (SME) sector. The bank has no physical branches.

"The current loan book of is Rs 21,390 crore and the bank has no delinquencies as on date," the company added.

was seeded by Indiabulls Housing in October 2015 with Rs 650 crore to own a 40 per cent controlling stake in the bank.

Last year, Indiabulls sold a part of its holding to the government of for Rs 900 crore.

Shares of were trading 4.98 per cent lower at Rs 620.25 apiece on BSE.

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

First Published: Fri, February 08 2019. 11:00 IST