Yes Bank shares in intra-day trade today fell 4% after two of its promoters pledged their complete stake at the bank.
After June 2019, promoter shareholding in the bank has come down to 19.78% of which Rana Kapoor and his wife hold 11.88%. In its filing to the BSE, the promoters clarified that a stake of 7.34% during the period July 18-22, 2019.
Rana Kapoor has pledged his entire holding of 4.3% and Morgan Credits Private Limited (MCPL) also pledged entire shareholding of 3.03%. Morgan Credits is a holding company of the lending entity whose ownership is help by Rana Kapoor's daughters namely Radha Khanna, Raakhe Tandon & Roshini Kapoor.
At 10:12 am, the stock was quoting down by 2.63% at Rs. 93.55.