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As per Indiabulls Housing Finance, its investee company UK’s OakNorth Bank has received investment of approx Rs.1,328 crore from 3 investors valuing it at approx Rs.8,290 crore.
In a regulatory filing Indiabulls Housing Finance stated,”OakNorth Bank has secured investment OF GBP 154 million (USD 203 million) from 3 investors- Clermont Group, Toscafund & Coltrane for a 16 per cent stake valuing it at GBP 962 million. Company’s approximately 30 per cent stake is now valued at USD 380 million, against original Investment of USD 100 million.”
Indiabulls Housing Finance, in November 2015 had acquired 39.76 per cent stake in UK’s OakNorth Bank for approx Rs.661 crore.
