Yes Bank sells stressed loan worth Rs. 203 crore

In a recent SEBI filing, Yes Bank announced that it has sold a stressed loan of Rs. 203 cr to Prudent ARC Ltd. The loan was Yes Bank’s exposure in the Katerra India Pvt. Ltd.

For this, the bank had issues with Expression of Interest under the Swiss Challenge Method as per the Reserve Bank of India's Master Direction on transfer of loan exposures, 2021.

It is noted that Yes Bank’s exposure in Katerra was Rs. 521 cr, so it has only recovered around 40%. Katerra was declared corporate insolvency in 2023.

With this Yes Bank’s stock traded in a range of Rs. 22.80 and Rs. 23.60, at a 50% increase on a YOY basis.

Katerra was part of the US-based Katerra that filed for bankruptcy in 2021. 

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