YES Bank tanks 13% intra-day as 3-year shareholder lock-in period ends

Analysts at ICICI Securities believe near term risk include decision to write-down AT-1 bonds being challenged in court, which is currently stayed and supply overhang post expiry of stock lock-in

Shares of YES Bank tanked 13 per cent to hit an eight-month low of Rs 14.40 on the BSE in Monday’s intra-day trade after its lock in period of three years, which was placed under the Reserve Bank of India (RBI's) reconstruction scheme 2020, ended today.

The stock was quoting at its lowest level since July 2022. It corrected 42 per cent from its 52-week high level of Rs 24.75, touched on December 14, 2022.

'YES Bank Limited Reconstruction Scheme, 2020' ("Scheme") was approved by the Central Government and had come into force on March 13, 2020.