Indiabulls Housing Finance Limited ('the Company') has further sold a portion of its stake in OakNorth Holding Ltd. (the wholly owning parent company of OakNorth Bank Ltd.) ('OakNorth'), to TEMF Limited (a fund managed by Toscafund Asset Management) for approximately Rs. 630 crores. Toscafund Asset Management LLP is a multi-asset management fund with approximately $ 4 billion of assets under management. It was founded in the year 2000 and has an investor network spanning across global institutional investors, private family offices, and investment intermediaries. The sale proceeds will be accretive to the regulatory net worth and the CRAR of the Company.
With the latest stake sale, the Company has raised a total of Rs. 1,832 crores as fresh equity in the month of September 2020 (Rs. 683 crores through QIP and Rs. 1,149 crores 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. The company has issued bonds of ₹ 2,780 crores in the current fiscal till date and has raised ₹ 1,832 crores in fresh equity in the current fiscal till date adding to the regulatory equity capital of the Company.
Further, the Company has launched a buyback of all its bonds maturing in next 12 months.
Shares of Indiabulls Housing Finance Ltd was last trading in BSE at Rs.152.05 as compared to the previous close of Rs. 155.2. The total number of shares traded during the day was 705891 in over 8199 trades.
The stock hit an intraday high of Rs. 157 and intraday low of 150.35. The net turnover during the day was Rs. 107945440.