Indiabulls Housing Finance sells stake in OakNorth Holdings

Indiabulls Housing Finance has sold a stake in OakNorth Holdings worth Rs 251 crore, and the funds would be added to equity.

The sale proceeds will contribute to the regulatory capital and capital-to-risk-weighted assets ratio (CRAR) and will be added to regulatory equity, Indiabulls Housing Finance said in a regulatory filing on Friday.

In 2020, the company sold two parts of its stake in UK-based OakNorth, raising Rs 1,070 crore.

OakNorth Bank was established in September 2015, with Indiabulls Housing Finance investing Rs 663 crore for a 40% stake in the bank in November 2015.

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