Indiabulls raises Rs 220 cr extending stake sales

Indiabulls Housing Finance extended its stake sales in UK-based OakNorth Holdings, the wholly owned parent company of OakNorth Bank for about Rs 220 crore. The sale proceeds will add to the regulatory net worth and the capital strength, the company said in a release.

With the latest stake sale, the company has raised a total of Rs 2,493 crores as fresh equity in September and October this year. While Rs 683 crores was raised via a qualified institutional placement, stake sales in OakNorth generated Rs 1,810 crore.

Indiabulls Housing, a home financier rated as AA / AA+, has also issued bonds of Rs 2,780 crore during the fiscal year.