Other Deals - Listed Firms
Indiabulls Housing Finance exits UK's OakNorth Holdings for Rs.3,049-Cr
Indiabulls Housing Finance has exited from UK-based OakNorth Holdings for about INR 3,049 crore. Through various rounds of secondary market sale, the company has completely sold off its stake and has realised INR 3,049 crore (USD 450 million). Investment in OakNorth Holdings has yielded the company an annualized IRR of 48% over 6 years. From the Deal Digest archive: OakNorth Bank was launched in September 2015. Indiabulls had invested INR 663 crore in November 2015 for a 40% stake in the bank. In November 2017, the company recouped its investment by selling about 10% stake to the Singapore government's investment arm GIC for INR 770 crore. In September 2020, IBHFL sold a stake worth INR 440 crore to HighSage Ventures LLC for INR 440 crore. In October 2020, it sold an additional stake about INR 630 crore to TEMF Ltd (a fund managed by Toscafund Asset Management). In Dec 2020 and Sep 2021, it sold an additional stake worth approximately INR 93 crore and INR 251 crore respectively.
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