Indiabulls Housing Finance has sold a portion of its stake in OakNorth Holdings (the wholly owning parent company of OakNorth Bank plc) (OakNorth) for approximately Rs 27 crore. 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.
Indiabulls Housing Finance is the second largest private housing finance company in India, regulated by the National Housing Bank (NHB).