Indiabulls Housing Finance Limited raises ₹ 522 Crores from sale of part of its stake in OakNorth Bank Ltd

Indiabulls Housing Finance Limited has sold a portion of its stake in OakNorth Holding Ltd. [the wholly owning parent company of OakNorth Bank Ltd.] ["OakNorth"], to an existing sovereign shareholder of the Bank for ₹ 82 crores. The company had already sold a partial stake in OakNorth for ₹ 440 Crores to private equity investors. Accordingly, the company has sold partial stake in OakNorth for an aggregate amount of ₹ 522 Crores, to private equity investors, during the last one week. The sale proceeds will be accretive to the regulatory net worth and the CRAR of the Company.

Financial Times ranked OakNorth Bank at no. 1 position on its list of fastest growing companies in Europe across all sectors in its 'FT 1000 - Europe's Fastest Growing Companies 2020' rankings.

Shares of Indiabulls Housing Finance Ltd was last trading in BSE at Rs.189.4 as compared to the previous close of Rs. 198.65. The total number of shares traded during the day was 880462 in over 11316 trades.

The stock hit an intraday high of Rs. 200.45 and intraday low of 188.2. The net turnover during the day was Rs. 169756527.

Source : Equity Bulls

Keywords