 "Indiabulls Real Estate")
The country’s third largest mortgage lender, Indiabulls Housing Finance (IHF), has sold a part of its stake in the UK-based OakNorth Bank to TEMF Limited, a fund managed by Toscafund Asset Management, for approximately Rs 630 crores. Earlier this month, the mortgage lender sold a part of its stake in the UK-based lender 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.
IHF has now raised Rs 1,832 crore as fresh equity through stake sale in OakNorth Bank and qualified institutional placement (QIP). The mortgage
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