SEBI greenlights Nippon AMC 96.8cr Yes Bank AT1 bonds settlement
Business
Nippon Life India Asset Management (Nippon AMC) just got the green light from SEBI to settle a long-running issue over its investments in Yes Bank's AT1 bonds.
The deal is worth ₹96.8 crore, which includes giving back ₹89.1 crore in management fees (plus interest) that were earned from these investments.
Another ₹7.7 crore covers settlement costs for the company and some of its officials.
Nippon AMC awaiting SEBI final order
This all started after SEBI sent Nippon AMC a show-cause notice in August 2024, pointing out possible violations linked to the Yes Bank AT1 bonds.
By agreeing to this settlement, Nippon AMC is hoping to put these regulatory troubles behind them and move forward.
Now, they're just waiting for SEBI's final order to make it official.