Yes Bank Share: The biggest announcement of the year may happen on November 4, keep an eye on the stock

Yes Bank's stock has risen. But in three months, the stock has fallen by 17 percent. Whereas from January to October, the stock fell by 3 percent. Now the news has come that the bank is preparing to sell unsecured loans worth Rs 635 crore.

According to the news of BS i.e. Business Standard, Yes Bank is preparing to sell unsecured loans worth Rs 635 crore. Applications have been sought from buyers till 4 November 2024.
 

The bank has set a reserve price of Rs 22.80 crore for NPAs, which means that only 3.59 percent will be recovered. The portfolio has personal loans worth Rs 307 crore and credit cards worth Rs 327.77 crore. Apart from this, JC Flowers Asset Reconstruction Company (ARC), acting as the trustee of JCF Yes Trust, is seeking counter bids on a cash basis to sell NPAs worth Rs 1,290.18 crore from four companies - Carnival Films, Cinema Ventures, Carnival Films Entertainment and Stargaze Entertainment - through an auction on November 18, based on an anchor bid of only Rs 78 crore, which means only 6.04 percent will be recovered. Total NPA of Yes Bank-  The bank sold NPAs worth Rs 48,000 crore to JC Flowers ARC in the year 2022. At the same time, NPAs worth Rs 11,200 crore were sold to JC Flowers ARC. Earlier this month, JC Flowers sought counter bids for a pool of five NPA accounts with a total outstanding of Rs 1,351 crore through a Swiss Challenge auction, which began with a cash anchor bid of Rs 505 crore from Ares Management-backed Assets Care and Reconstruction Enterprise (ACRE). These five companies are associated with Subhash Chandra-controlled Essel/Zee Group. The Swiss Challenge auction for these assets is scheduled to be held on November 6.
 

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