Money & Banking

Indiabulls Housing Finance sells further stake in OakNorth Bank, raises ₹220 cr

Our Bureau Mumbai | Updated on October 16, 2020 Published on October 16, 2020

Sale proceeds will be accretive to regulatory net worth and CRAR of company

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.

Follow us on Telegram, Facebook, Twitter, Instagram, YouTube and Linkedin. You can also download our Android App or IOS App.

Published on October 16, 2020
  1. Comments will be moderated by The Hindu Business Line editorial team.
  2. Comments that are abusive, personal, incendiary or irrelevant cannot be published.
  3. Please write complete sentences. Do not type comments in all capital letters, or in all lower case letters, or using abbreviated text. (example: u cannot substitute for you, d is not 'the', n is not 'and').
  4. We may remove hyperlinks within comments.
  5. Please use a genuine email ID and provide your name, to avoid rejection.