Indiabulls Housing Fin sells more stake in Oaknorth for ₹220 crore

Indiabulls Housing Finance on Friday said it had sold a portion of its stake in Oaknorth Holdings, the parent company of Oaknorth Bank, for ~220 crore. The lender has been gradually selling its stake in the Uk-based bank (Oaknorth Bank), too.

In the past couple of months, it had sold parts of its stake in Oaknorth Bank to Us-based Riva Capital Partners for about ~441 crore, TEMF, a fund managed by Toscafund Asset Management, for around ~630 crore and to Highsage Ventures, a Boston-based investment firm for ~440 crore.

The mortgage lender has said the proceeds will be used to bolster the capital adequacy ratio of the lender. After the latest stake sale, the company has raised a total of ~2,493 crores in fresh equity in September and October.