Indiabulls Housing Finance has Rs 662 crore AT1 exposure

MUMBAI:

Indiabulls Housing Finance

has said in a statement that it has a Rs 662-crore exposure to Yes Bank’s

additional tier-1

(

AT1

) bonds.


These bonds are to be written off as proposed under the RBI’s resolution plan for the troubled lender.

Indiabulls Housing Finance said that neither the company nor promoter

Sameer Gehlaut

have any loans outstanding from the failed bank.

Yes Bank issued Rs 10,000 crore of

AT1 bonds

, of which over Rs 8,900 crore is outstanding with mutual funds, insurance companies, and some individual investors as well.