India: Indiabulls Housing scrip plummets 17% on OakNorth Bank deal

India: Indiabulls Housing scrip plummets 17% on OakNorth Bank deal

Visual from OakNorth Bank website

Shares of Indiabulls Housing Finance Ltd fell as much as 17% on Friday after the company said it will acquire 40% stake in UK’s OakNorth Bank for $100 million. The announcement was made on Wednesday when equity markets were closed on account of Diwali.

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