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Rana Kapoor In Talks With Paytm To Sell His Stake In The Bank
Yes Bank's Rana Kapoor is reportedly in talks with Paytm to offload his ownership in the private bank which was cofounded by him. As per one of the source privy to the development, in August this year Rana Kapoor offered to sell the stake in the bank to Paytm CEO and founder Vijay Shekhar Sharma for a financial consideration of Rs. 1800- Rs. 2000 crore.
On Monday, the stock of Yes Bank closed at Rs. 63, higher by 4.5% over its previous close. And at the present valuation, the shareholding of Rana Kapoor and his family members who own 9.64% stake in the bank is Rs. 1550 crore.
Rana Kapoor's fortunes have been declining for the past few years. and he after losing a court case was removed as the bank's CEO and MD for serious lapses and other compliance issues by the RBI.
The banking leader holds stake in the bank via investment companies' including Yes Capital and Morgan Credits. In the investment companies, his daughter are the directors.
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