Indiabulls Housing jumps 4% as Indiabulls Housing Finance Limited-Employees Welfare Trust buys stake

Indiabulls Housing Finance share price jumped after Indiabulls Housing Finance Limited-Employees Welfare Trust bought 27 lakh shares in company at Rs 156.95 per share on NSE.

Indiabulls Housing Finance share price jumped over 4 percent intraday on September 22 after Indiabulls Housing Finance Limited-Employees Welfare Trust bought 27 lakh shares in company at Rs 156.95 per share on NSE.

The stock was trading at Rs 163.95, up Rs 9.05, or 5.84 percent at 10:23 hours. It has touched an intraday high of Rs 165.70 and an intraday low of Rs 146.95.

Indiabulls Housing Finance Limited has sold a portion of its stake in OakNorth Holding Ltd to HighSage Ventures LLC for Rs 440 crore, it said in an exchange communication. The sale proceeds will be accretive to the regulatory net worth and the CRAR of the company.

Indiabulls Housing said it plans to conclude a few other transactions on the partial stake sale in OakNorth Bank over the next few days. The divestments in OakNorth Bank will result in boosting CRAR and shall free up capital to grow the loan book of the company, it said.

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