Indiabulls Housing Finance on Friday said it has sold further stake in OakNorth Bank and had raised ₹220 crore from the transaction

“Indiabulls Housing Finance has further sold a portion of its stake in OakNorth Holdings (the wholly owning parent company of OakNorth Bank) for approximately ₹220 crore,” it said in a regulatory filing, adding that the sale proceeds will be accretive to the regulatory net worth and the CRAR of the company.

With the latest stake sale, it has now raised a total of ₹2,493 crore as fresh equity in September and October 2020, which includes ₹683 crore through qualified institutional placement and ₹1,810 crore through sale of stake in OakNorth. All the funds raised will add to its regulatory equity capital.

Indiabulls HF sells more in OakNorth

On October 15, it had informed the bourses that it had redeemed Secured, Redeemable, Non-Convertible Debentures of face value of ₹10 lakh each.

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