MUMBAI, 09 OCTOBER, 2020 (GPN): Indiabulls Housing Finance has sold some more stake in the UK-based OakNorth Bank to US-based Riva Capital Partners for approximately Rs 441 crore. Last month, it had sold portions its stake in the UK based bank to TEMF Limited, a fund managed by Toscafund Asset Management, for approximately Rs 630 crore and to HighSage Ventures, a Boston-based investment firm, for Rs 440 crore.

The proceeds will be used to bolster the capital adequacy ratio of the lender. With the latest stake sale, the lender has raised Rs 2,273

crores as fresh equity in the month of September and October 2020 (₹ 683 crores through QIP and ₹ 1590 crores through sale of stake in OakNorth)
adding to the regulatory equity capital of the Company.
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. The Company has issued bonds of ₹ 2,780 crores in the current fiscal till
date and has raised ₹ 2,273 crores in fresh equity in the current fiscal till date adding to the regulatory equity capital of the Company. ENDS