India Bulls Housing - Stake Sale in OakNorth Bank - Angel Broking

Mr. Jaikishan Parmar - Sr. Equity Research Analyst, Angel Broking Ltd

"India Bulls Housing has sold a portion of his stake in OakNorth Bank to HighSage Venture for Rs.440Cr. HighSage Ventures LLC is a Boston-based investment firm with an investor network spanning venture capital, private equity, and public equity communities. India bulls Housing has planned to sell the remaining stake in the near future. India Bulls has raised funds through QIP and Recent stake sale and the possibility of remaining stake sale will help them to build capital adequacy ratio. A high Capital adequacy ratio will provide comfort to an investor in an uncertain time, as real slippages from Morat book will be key for all financial companies. The true status of Asset quality will come to know post 31st Dec 2020. Because The deadline for banks to invoke the resolution plan - which is the deadline for agreeing to restructure a particular loan, after necessary due diligence - is 31 December 2020."

Shares of Indiabulls Housing Finance Ltd was last trading in BSE at Rs.194.55 as compared to the previous close of Rs. 201.15. The total number of shares traded during the day was 998642 in over 12270 trades.

The stock hit an intraday high of Rs. 204.95 and intraday low of 192.65. The net turnover during the day was Rs. 197306442.

Source : Equity Bulls

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