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Rana Kapoor And His Entities Sell 2.5% Stake In Yes Bank
Yes Bank's co-founder Rana Kapoor and his group entities have sold 2.16 percent stake for Rs 510 crore in the lender, according to a regulatory filing. The stake sale was done through open market sale on 26 and 27 September, it said.
As many as 255.03 crore shares of face value Rs 2 each were sold, with Kapoor and his family-owned entities- Yes Capital (India) Private Ltd and Morgan Credits Private Ltd, have aggregated Rs 510.06 crore from the stake sale.
Following the sale, Kapoor and his group entities' total stake has now come down to 4.72 percent in the bank.
Last week, YES Capital, one of the promoter entities of Yes Bank had sold 1.8 percent stake in the private sector lender for Rs 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 percent stake in Yes Bank for Rs 337 crore to prepay a certain part of its outstanding dues to Reliance Nippon Life AMC.
Shares of Yes Bank were trading at fell to an all-time low Rs 29.05 apiece on BSE in trade on Tuesday.
