YES Bank shares in focus today amid tax refund, conversion of warrants

Shares of YES Bank Ltd will be in the focus on Monday  on a slew of reasons including a tax refund and conversion of warrants held by CA Basque into equity shares.  YES Bank said it has received income-tax computational statements from the Jurisdictional Assessing Officer, determining a refund of Rs 284.21 crore (including interest of Rs 113.44 crore) pertaining to AY 2011-12 to AY 2013-14.

In a filing, the private bank said the income-tax department has appealed against the Income-tax Appellate Tribunal's (ITAT) consolidated order before the Bombay High Court. "Out of the aforesaid refund, the amount to be recognised in the profit and loss statement of the bank is in excess of the materiality threshold as prescribed under the amended listing regulations," it added. The board of directors of YES Bank considered and approved the allotment of 1,27,98,80,909 fully paid up equity shares of face value of Rs 2 each of the Bank to CA Basque pursuant to exercise of 127,98,80,909 warrants allotted to it in December, 2022, said the private lender in another exchange filing with the bourses on April 21. YES Bank said it received more than Rs 1,422.58 crore against the allotment of shares as the allottee paid the remaining sum, equivalent to 75 per cent of the exercise price of the warrant. The warrants were issued to CA Basque at a price of Rs 14.82 per share warrant, the lender said. The total issued paid-up capital has increased from Rs 5,753 crore to Rs 6,009 crore, it added. Shares of YES Bank settled at Rs 23.94 on Friday, up 0.21 per cent. It  commanded a total market capitalisation of Rs 69,000 crore. The stock is down more than 27 per cent from its 52-week high at 32.81, hit in February 2024. YES Bank is scheduled to announce its Q4 earnings later this week on Saturday, April 27, 2024.