Rana Kapoor's stake in Yes Bank falls 0.8% more1 min read . Updated: 19 Nov 2019, 08:30 PM IST
- Kapoor now holds 3.92% stake in Yes Bank directly and 900 shares through Yes Capital following the share sale
- Yes Capital had 0.8% or 20.425 mn shares in the bank before the sale; of these, 20.424 mn shares have been sold during 13-14 Nov
Mumbai: Private lender Yes Bank Ltd.’s promoter Rana Kapoor now holds 100 million shares or 3.92% stake in the bank after Kapoor family-owned promoter entity YES Capital (India) Pvt. Ltd.’s 20.424 million shares got sold in the open market.
According to exchange filings on Tuesday, the share sale was carried out on 13 and 14 November. Yes Capital had 0.8% or 20.425 million shares in the bank before the sale. Of these, 20.424 million shares have been sold.
Kapoor now holds 3.92% stake in Yes Bank directly and 900 shares through Yes Capital following the share sale.
Kapoor family’s stake in the bank has been steadily coming down over the past three months as lenders to Yes Capital and Kapoor’s another promoter entity Morgan Credits Pvt. Ltd. Have been invoking pledged shares and selling them in the open market.
Yes Bank’s other co-promoters Madhu Kapur and her family-owned entitiy Mags Finvest Pvt Ltd together continue to hold 8.33% in the Bank.
Yes Bank shares fell 2.66% to close at ₹64.15 on Tuesday on BSE.
Before the latest deal, YES Capital, Morgan Credits and Rana Kapoor had together sold 55.2 million shares, or 2.16% stake in the open market during 26-27 September.
On 4 November, Rakesh Jhunjhunwala bought 13 million shares or 0.51% stake in YES Bank. Jhunjhunwala picked up shares at ₹67.10 per share, putting the deal value at around ₹86.89 crore.