Indiabulls Housing sells more stake in OakNorth Holdings for Rs 64 crore

NEW DELHI: Indiabulls Housing Finance Ltd has further sold a portion of its stake in OakNorth Holdings Ltd, the parent company of OakNorth Bank plc for around Rs 64 crore.

The sale proceeds will be accretive to the regulatory net worth and the CRAR of the company, Indiabulls Housing said in a regulatory filing.

With the latest stake sale, the company has raised a total of Rs 2,577 crore as fresh equity in the month of September, October and November 2020 — Rs 683 crore through QIP and Rs 1,894 crore through sale of stake in OakNorth — adding to the regulatory equity capital of the company.

“Indiabulls Housing in its category of AA / AA+ rated HFCs/ NBFCs is at the top position for both raising bonds and fresh equity in the current fiscal,” it said.

The company has issued bonds of Rs 2,780 crore in the current fiscal till date and has raised Rs 2,577 crore in fresh equity in the current fiscal till date adding to the regulatory equity capital of the company.