Shares of Yes Bank surged over 7% on January 1 after the private lender announced receiving Rs 150 crore from a single trust in its Security Receipts Portfolio after the Non-Performing Assets (NPA) portfolio sale. 

Yes Bank shares reached an intraday high of Rs 23, up 7.2% from the previous closing price on the National Stock Exchange (NSE). The stock closed 4.66% higher at Rs 22.45 per share. 

In an exchange filing dated December 31, 2023, Yes Bank announced that it had received Rs 150 crore from a single trust in the Security Receipts Portfolio. This receipt of funds was related to the sale of NPA Portfolio to JC Flowers Asset Reconstruction on December 17, 2022. 

Further, the private sector lender also announced on Monday that it had received a tax receipt worth Rs 3,01,50,149 from the Tamil Nadu Goods and Services Tax (GST) department because of various GST issues.

However, the bank does not expect any material impact on its financial or other operational activities due to the order. Yes Bank also added that it would pursue legal options against the order.