NEW DELHI: Shares of were up 1.4% in early Mumbai trading Thursday after the company said that it has exited its stake in UK-based OakNorth Holdings for around Rs 3,049 crore.
At 09:45 hours (IST), shares of Indiabulls Housing finance were at Rs 244.80 on the National Stock Exchange, registering a gain of 1.4% from previous close.
In November 2015, the non-banking financial company had acquired a stake of 39.76 per cent in OakNorth Holdings Ltd for Rs 663 crore.
In a regulatory filing on Wednesday, Indiabulls Housing Finance said that the investment in OakNorth Holdings had yielded the domestic NBFC an annualized internal rate of return of 48 per cent over 6 years.
