India's Yes Bank slumps to six month low after Supreme Court ruling on AT1 bonds

Yes Bank

15/10/2026 10:56

Updates
** Shares of India's Yes Bank YESB.NS fall 13.8% to 18.28 rupees, their lowest level since April 2026
** Stock drops after Supreme Court upholds Bombay High Court ruling quashing write-off of 84 billion rupees ($884.47 million)worth of company's additional tier-1 (AT1) bonds
** Supreme Court holds write-off of AT1 bonds by Yes Bank's administrator illegal and arbitrary as it violated government's final reconstruction scheme, according to lawyer representing the bondholders
** Bonds were written down to zero during RBI-led rescue of Yes Bank in March 2020, wiping out bondholders' investments and prompting legal challenges 
** "The ruling is negative for Yes Bank, as it could require the bank to restore the AT1 bondholders' claims, potentially including accrued interest," says Deven Choksey, managing director at DRChoksey FinServ
** YESB stock rated "sell" on average by 13 analysts, median PT at 22 rupees, according to data compiled by LSEG
** Stock down 10.56%, YTD

($1 = 94.9725 Indian rupees)

 (Reporting by Surbhi Misra in Bengaluru)
 ((Surbhi.Misra@thomsonreuters.com |  X: https://twitter.com/SurbhiMisra_  |;))