Mortgage lender Indiabulls Housing Finance Ltd on Sunday announced that it has raised approximately ₹93 crore by selling a portion of its stake in OakNorth Holdings Ltd. “The sale proceeds will be accretive to the regulatory net worth and the CRAR of the company,” it said in a regulatory filing.
With the latest stake sale, the company has raised a total of ₹ 2,670 crore as fresh equity in the month of September, October and November ( ₹ 683 crores through QIP and ₹ 1,987 crores through sale of stake in OakNorth) adding to the regulatory equity capital, it further stated.
Indiabulls Housing Finance had, last month, sold its additional stake in OakNorth Bank for ₹441 crore. In September, it had sold a portion of its stake in OakNorth Holding Ltd to HighSage Ventures LLC for ₹440 crore.
OakNorth Holding Ltd is the wholly-owning parent company of OakNorth Bank Ltd that was launched in September 2015. Indiabulls Housing Finance had invested ₹663 crore in November 2015 for a 40 per cent stake in the bank.
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.
