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YES Bank receives redemption amount of ₹230 cr
August 21, 2023
Yes Bank has said that it has received an amount of ₹230 crore from a single trust in the Security Receipts Portfolio.
The Bank in a regulatory filing said,” This is with reference to our earlier disclosure pertaining to Sale of NPA Portfolio to JC Flowers ARC on December 17, 2022. In this regard, the Bank would like to inform that it has received a redemption amounting to ₹230 crores from a single trust in the Security Receipts Portfolio.”
“Since the net amount (redemption quantum, in excess of the underlying carrying value of the trust), is more than the materiality threshold as prescribed under the amended Listing Regulations, the said event, is being hereby disclosed under Regulations 30 of Listing Regulations,” the statement further said.
Earlier, Yes Bank has concluded assignment of the ₹48,000-crore stressed asset loan portfolio of the bank to JC Flowers Asset Reconstruction company.
The bank had earlier declared JC Flowers Asset Reconstruction Private Limited (JC Flowers ARC) as the winner of the Swiss Challenge process for sale of its identified portfolio of stressed assets.
“The bank has now concluded assignment of identified stressed loan portfolio of the bank aggregating to up to ₹48,000 crore as on March 31, 2022 under 15:85 structure, after adjusting recoveries bYes etween 1st April 2022 to 30th November 2022,” Yes Bank said at that time.
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