Rana Kapoor, his two entities sell 2.16% stake in Yes Bank for ₹510 crore1 min read . Updated: 01 Oct 2019, 05:28 PM IST
- The stake sale was done through open market transaction on September 26-27
- After this, Kapoor and his group entities' stake has now come down to 4.72% in the bank
NEW DELHI : Yes Bank promoter Rana Kapoor and his group entities have sold 2.16 per cent stake worth ₹510 crore in the lender, according to a regulatory filing.
The stake sale was done through open market transaction on September 26-27, it said.
After this, Kapoor and his group entities' stake has now come down to 4.72 per cent in the bank.
Last week, YES Capital, one of the promoter entities of Yes Bank, sold 1.8 per cent stake in the private sector lender. The stake sale helped the promoter group entity to mop up around ₹240 crore.
YES Capital said the proceeds would go to Franklin Templeton Asset Management, with whom its shareholding of YES Bank was pledged.
Last month, Morgan Credits had sold 2.3% stake in Yes Bank for ₹337 crore to prepay a certain part of its outstanding dues to Reliance Nippon Life AMC.
Shares of Yes Bank were trading at ₹29.85 apiece, down 27.99 per cent, on the BSE on concerns of financial health of the lender.
This story has been published from a wire agency feed without modifications to the text. Only the headline has been changed.