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Indiabulls Housing Finance sells additional stake in OakNorth Bank for Rs 441 crore

12 Oct 2020 Evaluate

Indiabulls Housing Finance has further sold a portion of its stake in OakNorth Holding (the wholly owning parent company of OakNorth Bank) to Riva Capital Partners V, L.P., USA, for around Rs 441 crore. 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 crore through QIP and Rs 1590 crore through sale of stake in OakNorth) adding to the regulatory equity capital of the company.

Indiabulls Housing Finance is the second largest private housing finance company in India, regulated by the National Housing Bank (NHB).

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