General Announcement::IndiabullsHousingFinanceLtd.raises INR 93 crores by selling part of its stake in OakNorth Holdings

Issuer & Securities

Issuer/ Manager
INDIABULLS HOUSING FINANCE LIMITED
Stapled Security
No

Announcement Details

Announcement Title
General Announcement
Date &Time of Broadcast
29-Nov-2020 01:54:05
Status
New
Announcement Sub Title
IndiabullsHousingFinanceLtd.raises INR 93 crores by selling part of its stake in OakNorth Holdings
Announcement Reference
SG201129OTHRPRPX
Submitted By (Co./ Ind. Name)
Amit Jain
Designation
Company Secretary
Description (Please provide a detailed description of the event in the box below)
Dear Sir / Madam,

Indiabulls Housing Finance Limited (the Company ) has further sold a portion of its stake in OakNorth Holdings Ltd. (the wholly owning parent company of OakNorth Bank plc) ( OakNorth ) for approximately INR 93 crores. The sale proceeds will be accretive to the regulatory net worth and the CRAR of the Company.

With the latest stake sale, the Company has raised a total of INR 2,670 crores as fresh equity in the month of September, October and November 2020 (INR 683 crores through QIP and INR 1,987 crores through sale of stake in OakNorth) adding to the regulatory equity capital of the Company.

Thanking you

Attachments

IBH_Intimation_OakNorth_Investment_Sale_28Nov2020.pdf
Total size =451K