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Deposit-Taking Franchise Indiabulls Housing Finance Acquires Stake in UK's OakNorth Bank

Indiabulls Housing Finance Ltd. recently acquired a 39.76% stake in UK’s OakNorth Bank for $100 million. OakNorth Bank is a licensed UK commercial Bank. With 39.76% shareholding, the company will be the largest shareholder in the bank. Further, subject to regulatory approvals, Mr. Sameer Gehlaut, Chairman of the company, will be investing in his personal capacity up to a 10% stake in OakNorth Bank at the same valuation.

The investment has been identified and approved by th ...

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