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Yes Bank saga since the beginning.


1) September 19: RBI cuts short Kapoor’s term till January 31, 2019. Yes Bank shares tank over 30% and the lender loses as much as $3.1 billion in market value. 2) September 28: Rana Kapoor, in a tweet, says he remains committed to the interests of the bank and its stakeholders. He also says he will never sell his promoter shares, but pass them on to his daughters. 3) October 17: RBI refuses to give Rana Kapoor more time at the bank and asks the lender to find a new CEO by February 1, 2019. Yes Bank says it aims to complete the recruitment process by mid-December. 4) October 25: Yes Bank’s second-quarter profit misses estimates by a wide berth as provisions for bad loans and mark-to-market losses more than double, and asset quality deteriorates. 5) November 14: Ashok Chawla resigns from Yes Bank’s board. Vasant Gujarathi also steps down here as an independent director. 6) November 15: OP Bhatt resigns as an external expert of the search and selection committee, due to “potential conflict of interest”. 7) November 19: Independent director Rentala Chandrashekhar resigns. 8) Bank said it has high exposure of loans to companies like Jet Airways, DHFL, IL&FS, Indiabulls group and Reliance group companies (Anil Ambani own). All of them either gone bankrupt or defaulted on loan repayment. 9) Yes Bank appoints Ravneet Gill as new CEO to replace Rana Kapoor. 10) Bank reported an unexpected loss of 1,508 crore in March quarter.

10. Yes bank didn’t disclose the actual NPA figures in public rather it was kept as a secret among promoters. The actual NPA was approx 4 times of reported NPA.

11. 7 May 2019, Yes Bank had to acquire 12.8% stake in CG Power and Industrial Solutions on the invocation of pledged shares as CG power defaulted on loans.

12. May 15, 2019: RBI doubted on corporate governance of Yes Bank and appointed R Gandhi, ex-RBI Dy Governor on board of YES Bank.

13. Rana Kapoor never disclosed that its complete holdings are actually pledged.

14. On Sept 28, 2018, Rana Kapoor had promised that he will not sell even one stock as they are like diamonds for him. But later He sold the stake and today he owns less than 1% stake in the bank.

15. YES Bank raises Rs 1,930 cr via QIP; CEO Ravneet Gill says funds to be used for growth.

16. Oct 02, 2019: Stock plunged 23% due to ‘forced sale’ of pledged shares. Reliance Nippon Asset Management Company has directed its trustees to sell the remaining shares pledged by Rana Kapoor as collateral. The promoters, too, are reducing stake in the bank. YES Capital (India), Morgan Credits Private and Rana Kapoor together sold 552 lakh shares, or 2.16%, stake in the open market during September 26–27, according to a regulatory filing.

17. Oct 03, 2019: Yes Bank Group President Rajat Monga Resigns, Shares Surge 40% intraday After CEO Concall.

18. Oct 03, 2019: CEO Ravneet Gill said: “We will not raise capital at any price, we will wait for prices to correct”.


Here is What 40 brokerages said on the YES Bank stock since April 2019.

Thanks! Akshay Seth Research Analyst (SEBI Regd.) akshay.equity@gmail.com Linkedin: connect here

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