Indiabulls Housing Finance Ltd has further sold part of stake in OakNorth Holdings Ltd for Rs. 93 crore

Indiabulls Housing Finance Limited (the "Company") has further sold a portion of its stake in OakNorth Holdings Ltd. (the wholly owning parent company of OakNorth Bank plc) ("OakNorth") for approximately ₹ 93 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 ₹ 2,670 crores as fresh equity in the month of September, October and November 2020 (₹ 683 crores through QIP and ₹ 1,987 crores through sale of stake in OakNorth) adding to the regulatory equity capital of the Company.

Shares of Indiabulls Housing Finance Ltd was last trading in BSE at Rs.187.05 as compared to the previous close of Rs. 185.7. The total number of shares traded during the day was 2313718 in over 20387 trades.

The stock hit an intraday high of Rs. 192 and intraday low of 180.7. The net turnover during the day was Rs. 432297723.

Source : Equity Bulls

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