Yes Bank stock’s next trigger: AT1 bond ruling

The Supreme Court will decide next week if Yes Bank’s cancelled AT1 bonds need to be restored. Recent investors like Carlyle and Advent are on edge.

In December 2022, private equity majors Carlyle Group and Advent International invested Rs 8,892 crore in Yes Bank, picking up a nearly 10% stake each in the private sector lender. A mix of equity shares and warrants, the investment would eventually be converted to an equity stake. 

The move came at a crucial time for the bank, which has been on the road to recovery following a near-collapse owing to bad loans. Just days before the investment in December, the bank’s stock hit a 30-month high, at Rs 24.80. 

But the rally was short-lived. In January, the Bombay High Court …


T Surendar

Surendar helps lead the newsroom at The Morning Context as executive editor. Over the years, Surendar has worked in industries from pharmaceuticals to diamonds, as well as a stint as an equity analyst. In his long career as a business journalist, he has led teams at The Times of India, India Today and Fortune India. He was part of the founding team at Forbes India and interned at and published in The Times, London.

Executive Editor