Indiabulls Housing Finance has sold a portion of its stake in OakNorth Holding -- the wholly owning parent company of OakNorth Bank to HighSage Ventures LLC for Rs 440 crore. The sale proceeds will be accretive to the regulatory net worth and the CRAR of the Company. The Company plans to conclude few other transactions on the partial stake sale in OakNorth Bank over the next few days. The divestments in OakNorth Bank will result in boosting CRAR and shall free up capital to grow the loan book of the Company.
Indiabulls Housing Finance is the second largest private housing finance company in India, regulated by the National Housing Bank (NHB).
