Yes Bank shares surged in intra-day trade by as much as 12% amidst reports that businessmen Sunil Munjal and Sunil Mittal have shown their interest to buy stake in the private lender. Nonetheless, Sunil Mittal denied any such reports.
As per a ET Now report, both the individuals have shown their interest and if the deal goes through, the two businessmen will buy stake in the bank in their personal capacities and the stake could be up to 5%. Another 5% stake can be sold to PE investors.
In recent time, the stock of Yes Bank has declined sharply due to its position in stressed assets. Also, at the stake of Rana Kapoor has been reduced to almost zero.
From levels of Rs. 404 in August 2018, the stock was last seen quoting at Rs. 47.25 on the BSE.