Mumbai, Oct 16 (SocialNews.XYZ) Indiabulls Housing Finance on Friday said that it has sold further stake in OakNorth Holdings to Rs 220 crore.
OakNorth Holdings is the parent company of the London-based OakNorth Bank.
In a regulatory filing Indiabulls Housing said that with the latest stake sale, the company has raised a total of Rs 2,493 crore as fresh equity in the month of September and October 2020 -- Rs 683 crore through QIP and Rs 1,810 crore through sale of stake in OakNorth -- adding to the regulatory equity capital of the company.
The sale proceeds will be accretive to the regulatory net worth and the CRAR of the company, it said.
"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," said the filing,
The company has issued bonds of Rs 2,780 crore in the current fiscal till date and has raised Rs 2,493 crore in fresh equity in the current fiscal till date adding to the regulatory equity capital of the company.
Source: IANS
About Gopi
Gopi Adusumilli is a Programmer. He is the editor of SocialNews.XYZ and President of AGK Fire Inc.
He enjoys designing websites, developing mobile applications and publishing news articles on current events from various authenticated news sources.
When it comes to writing he likes to write about current world politics and Indian Movies. His future plans include developing SocialNews.XYZ into a News website that has no bias or judgment towards any.
He can be reached at gopi@socialnews.xyz