Indiabulls Housing Finance Limited has further sold a portion of its stake in OakNorth Holdings Ltd, the wholly owning parent company of OakNorth Bank plc, for approximately ₹64 crore, the company said in a regulatory filing.
The sale proceeds will be accretive to the regulatory net worth and the CRAR of the company, it said.
With the latest stake sale, it has raised a total of ₹2,577 crore as fresh equity in September, October, and November 2020 (₹683 crore through QIP and ₹1,894 crore through the sale of stake in OakNorth) adding to the regulatory equity capital of the company.
Indiabulls Housing in its category of AA / AA+ rated HFCs/ NBFCs is at the top position for both raising bonds and fresh equity in the current fiscal, it said.
The company has issued bonds of ₹2,780 crore in the current fiscal till date and has raised ₹2,577 crore in fresh equity in the current fiscal till date adding to the regulatory equity capital of the company, it said.
On October 16, Indiabulls Housing Finance had sold an additional stake in OakNorth Holdings Ltd for Rs 220 crore.
"Indiabulls Housing Finance has further sold a portion of its stake in OakNorth Holdings Ltd (the wholly owned parent company of OakNorth Bank plc) for approximately Rs 220 crore," Indiabulls Housing Finance had said in a regulatory filing.
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