251 crore stake in OakNorth Holdings, and the proceeds from the sale will be added to share capital, according to a regulatory filing. “Indiabulls Housing Finance Limited has sold a part of its stake in Oak North Holdings Ltd (wholly owned parent company of .) Oak North Bank Plc) for about Rs 251 crore.
“The proceeds of the sale will be favorable to the regulatory net worth and CRAR (capital-to-risk weighted asset ratio) and will be added to the regulatory equity capital of the company,” Indiabulls Housing Finance said in a regulatory filing on Friday.
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During the same month last year, the company had sold stake in UK-based Oaknorth in two tranches, and raised Rs 1,070 crore.
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OakNorth Bank was launched in September 2015, with Indiabulls Housing Finance investing Rs 663 crore in November 2015 for a 40 per cent stake in the bank.
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Indiabulls Housing Finance Ltd shares closed at Rs 225.70 per share on Friday BSE, down 1.76 percent from the previous close.
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