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Yes Bank Shares Surge on Receipt of Rs 284.21 Crore Tax Refund

Last updated: 23 April 2024


Shares of Yes Bank witnessed a significant uptick in early trading today, buoyed by positive developments including a substantial tax refund order and an equity allotment decision. These developments, coupled with potential stake sale discussions, have ignited investor interest in the bank's future prospects.

In a noteworthy development, Yes Bank announced that it had received a tax refund order totaling Rs 284.21 crore for the assessment years 2011-12 to 2013-14. This substantial refund, inclusive of interest amounting to Rs 113.44 crore, marks a significant financial boost for the bank.

Yes Bank Shares Surge on Receipt of Rs 284.21 Crore Tax Refund

Moreover, the board of directors of Yes Bank recently approved the allotment of 127,98,80,909 fully paid-up equity shares to CA Basque. This decision, stemming from the exercise of previously allotted share warrants, underscores the bank's strategic approach to bolstering its capital base.

Looking ahead, Yes Bank is gearing up to disclose its audited standalone and consolidated financial results for the quarter and year ended March 31, 2024. The upcoming board meeting scheduled for April 27, 2024, will serve as a platform to review and approve these crucial financial disclosures.

In parallel, market speculation surrounding a potential stake sale has intensified, with reports indicating interest from prominent international entities. Japanese financial giants Mitsubishi UFJ Financial Group (MUFJ) and Sumitomo Mitsui Banking Corp. (SMBC) are reportedly evaluating bids to acquire a majority stake in Yes Bank. Additionally, a Middle Eastern company has also expressed interest, further underscoring the bank's appeal to global investors.

While specifics regarding the quantum of stakes to be sold and the involved investors remain undisclosed, these developments signal a potential turning point for Yes Bank as it seeks to fortify its position in the financial landscape.


Yes Bank's recent surge in share value, driven by favorable financial outcomes and strategic decisions, reflects renewed optimism among investors. With pivotal developments on the horizon, including the awaited financial results announcement and potential stake sale discussions, the bank appears poised to chart a path towards sustained growth and stability in the coming quarters.

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