Indiabulls Housing Finance Ltd raises Rs. 441 crores by selling part of its stake in OakNorth Bank Ltd

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 Riva Capital Partners V, L.P., USA, for approximately Rs. 441 crores. 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. 2,273 crores as fresh equity in the month of September and October 2020 (Rs. 683 crores through QIP and Rs. 1590 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 Rs. 2,780 crores in the current fiscal till date and has raised Rs. 2,273 crores in fresh equity in the current fiscal till date adding to the regulatory equity capital of the Company.

Shares of Indiabulls Housing Finance Ltd was last trading in BSE at Rs.155.7 as compared to the previous close of Rs. 149.05. The total number of shares traded during the day was 1093055 in over 11233 trades.

The stock hit an intraday high of Rs. 157.25 and intraday low of 149.1. The net turnover during the day was Rs. 168342531.

Source : Equity Bulls

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