Indiabulls Housing sells more stake in OakNorth Holdings for Rs 220 cr

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SME Times News Bureau | 16 Oct, 2020
Indiabulls Housing Finance on Friday said that it has sold further stake in OakNorth Holdings to Rs 220 crore.

OakNorth Holdings is the parent company of the London-based OakNorth Bank.

In a regulatory filing Indiabulls Housing said that with the latest stake sale, the company has raised a total of Rs 2,493 crore as fresh equity in the month of September and October 2020 -- Rs 683 crore through QIP and Rs 1,810 crore through sale of stake in OakNorth -- adding to the regulatory equity capital of the company.

The sale proceeds will be accretive to the regulatory net worth and the CRAR of the company, it said.

"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," said the filing,

The company has issued bonds of Rs 2,780 crore in the current fiscal till date and has raised Rs 2,493 crore in fresh equity in the current fiscal till date adding to the regulatory equity capital of the company.