Advertisement
Friday, Oct 22, 2021
Outlook.com
Outlook.com

Indiabulls Housing Finance Sells Stake in OakNorth Holdings For Rs 251 Crores

The financer had sold stakes in the United Kingdom-based OakNorth in two portions last year. It had raised Rs 1,070 crore in total from the sale

Indiabulls Housing Finance Sells Stake in OakNorth Holdings For Rs 251 Crores
Indiabulls Housing Finance Sells Stake in OakNorth Holdings For Rs 251 Crores
outlookindia.com
2021-09-24T19:58:51+05:30

Indiabulls Housing Finance sold a portion of its stake in OakNorth Holdings for approx Rs 251 crores, the company stated in a regulatory filing with the Bombay Stock Exchange (BSE). The proceeds from the sale would be added to its regulatory equity capital. 

"The sale proceeds will be accretive to the regulatory net worth and the CRAR of the Company and will be added to the regulatory equity capital of the Company," the filing stated. 

The financer had sold stakes in the United Kingdom-based OakNorth in two portions last year. It had raised Rs 1,070 crore in total from the sale. 

OakNorth Bank was launched in September 2015. Indiabulls invested Rs 663 crores in November 2015 for a 40% stake in the bank. 

In a regulatory filing on Tuesday, the home financer said it had raised Rs 807.83 crore from the issuance of non-convertible debentures (NCDs). The company added that the retail category was oversubscribed 2.44 times (of the base size issue) with a total collection of Rs 146.22 crore. The base issue was oversubscribed 4.04 times.

Advertisement

Outlook Newsletters

Advertisement
Advertisement
Advertisement

Read More from Outlook

Global Hunger Index Might Not Be Flawless But India Still Needs To Take It As Warning

Global Hunger Index Might Not Be Flawless But India Still Needs To Take It As Warning

The Centre has reacted angrily at the new Global Hunger Index, but experts say it should plug loopholes in the food delivery system.

Didi's 2-Day Goa Trip Not A 'Vacation' As TMC Pitches For 'Gonychi Navi Sakal'

Didi's 2-Day Goa Trip Not A 'Vacation' As TMC Pitches For 'Gonychi Navi Sakal'

West Bengal Chief Minister Mamata Banerjee's visit comes as the TMC appoints former Goa chief minister Luizinho Faleiro as a national vice president.

'Suspended' Old Trafford Test Rescheduled To July 2022

'Suspended' Old Trafford Test Rescheduled To July 2022

ECB announced that the game has been moved to Edgbaston and will be part of India's white-ball tour. The match will begin on July 1.

100 Crore Shots: How Modi Govt Scored Its Vaccination Goal In 280 Days

100 Crore Shots: How Modi Govt Scored Its Vaccination Goal In 280 Days

Prime Minister Narendra Modi described the feat as 'a journey from anxiety to assurance' that has made India stronger.

Advertisement