 "Indiabulls Housing Finance")
Indiabulls Housing Finance, the country’s third-largest mortgage lender, has sold a part of its stake in the UK-based OakNorth Bank 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.
In a statement to the exchanges, Indiabulls Housing Finance said: “The company plans to conclude few other transactions on the partial stake sale in OakNorth Bank over the next few days. The divestments in OakNorth Bank will result in boosting CRAR and shall free up capital to grow the loan book of the company.”
It had invested
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