Indiabulls Housing Fin stock may stay subdued as growth remains elusive

At over 30 per cent capital adequacy, the lender has raised Rs 2,780 crore of debt and Rs 2,577 crore of equity so far in FY21

It has been nearly two months since Indiabulls Housing Finance's successful round of qualified institutional placement (QIP) and the Rs 1,894 crore it raised by divesting stake in its UK-based OakNorth Bank subsidiary. Yet the company's stock has not been able to regain the Street’s confidence. At Rs 144.3 a share, the stock trades at 30 per cent discount to its QIP price at Rs 206.7 a share which was at par with its market price when the issue was launched in September. In FY21, India’s third largest housing financier raised Rs 2,577 crore equity and Rs 2,780 crore debt,