Indiabulls Housing Finance says no loans outstanding from Yes Bank, share price rally 29%

Indiabulls Housing Finance says no loans outstanding from Yes Bank, share price rally 29%

Indiabulls Housing Finance witnessed a rally in Friday’s trading session after the company’s regulatory filing stated clearly it has no outstanding loans from Yes Bank.

The filing also added that Sameer Gehlaut is currently in the UK and will cooperate with the investigation surrounding Yes Bank soon after the ban is lifted from international flights.

“Indiabulls Housing has no loans outstanding from Yes Bank,” said the filing clearly. And since then, the stock has gained nearly 29 percent in today’s trade.

At 11:30 am, the stock was trading 17 percent higher to Rs 105.

Speaking on the Rana Kapoor’s property, the company said that Kapoor bought the 40 Amrita Shergill property in September 2017 and mortgaged the property to Indiabulls Housing in November 2017.

On the mortgage, Indiabulls gave a loan of Rs. 285 crores on the property, and also took a Personal Guarantee of Rana Kapoor whose net worth at the time was over Rs.7,000 crores, added the filing.

[“source=cnbctv18”]