Corporate News 07-Oct-21
Indiabulls Housing Finance update on sale of its stake in OakNorth Holdings
Investment in OakNorth Holdings yields annualized IRR of 48% over 6 years
Indiabulls Housing Finance announced that in November 2015, the company acquired 39.76% stake in OakNorth Holdings for Rs 663 crore (USD 100 million). Through various rounds of secondary market sale, the company has completely sold off its stake and has realized monies of Rs 3,049 crore (USD 450 million). Investment in OakNorth Holdings has yielded the company an annualized IRR of 48% over 6 years.
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