Yes Bank’s Rana Kapoor pledges entire promoter stake as stock nosedives
Kapoor and family owned MCPL have been forced to pledge entire 7.34% stake with Reliance Nippon Life
Rana Kapoor and MCPL hold 4.31% and 3.03% stake, respectively, in Yes Bank
Yes Bank co-promoters Rana Kapoor and his family owned firm Morgan Credits Pvt. Ltd (MCPL) have been forced to pledge their entire 7.34% stake with Reliance Nippon Life Asset Management Ltd (RNAM), asset manager of Reliance Mutual Fund (MF). The move follows the mutual fund converting a previously unsecured loan into a secured loan.