Indiabulls Housing Fin shares plunge over 16 pc

New Delhi, Mar 9 () Shares of Indiabulls Housing Finance on Monday plunged over 16 per cent after the company said it had an exposure of Rs 662 crore in the form of bonds to Yes Bank.

On the BSE, the stock plunged 16.06 per cent to close at Rs 213.55. Intra-day, it lost as much as 19.08 per cent to Rs 205.85.

It fell 18.47 per cent to settle at Rs 207.50 on the National Stock Exchange (NSE). During the day, it slumped 19.92 per cent.

In terms of volume, more than 4 crore shares were traded on the NSE and 27.08 lakh units on the BSE.

"Yes Bank owes to Indiabulls Housing Finance Rs 662 crore via additional tier 1 (AT-1) bonds," according to a regulatory filing.

The investments in AT-1 bonds of Yes Bank were made in 2017, as part of its treasury management of over Rs 20,000 crore of cash and when the bank was worth over USD 10 billion in value, the filing said.

Sameer Gehlaut, promoter of Indiabulls Housing Finance, or any of his companies or any of his family member companies have no loans outstanding from Yes Bank, the non-banking finance company said further.

The statement from Indiabulls Housing comes amid arrest of Yes Bank co-founder and former CEO Rana Kapoor, on alleged money laundering charges and that the loans by the lender to DHFL turned sour. RUJ HRS