Rana Kapoor Sells 0.8% Stake In Yes Bank

Through his promoter entities Yes Capital and Morgan Credits, Rana Kapoor sold 0.8 percent stake in Yes Bank or 2.04 lakh shares, as per a stock exchange notification. The co-founder and his associate companies now have 900 shares in the private lender.

As per the notification, shares were sold in the open market on 13 and 14 November.

The share price of Yes Bank crashed as much as 4.3 percent in afternoon trade, having surged 2.1 percent in the morning on acquiring a stake in Tulip Star Hotels Limited. The stock closed 2.51 percent lower at Rs 64.20 apiece on NSE.

In September, Yes Capital, Morgan Credits and Rana Kapoor had sold 2.16 percent stake in the open market. Additionally, Reliance Nippon Life Asset Management invoked 3.92 percent of its stake in the bank.

As of 30 September, Rana Kapoor held 3.92 percent in the company while Yes Capital held 0.8 percent.

On Monday, Yes Bank informed the exchanges that it has acquired 20.61 percent stake in Tulip Star Hotels over the invocation of pledged shares.

Earlier this month, Rakesh Jhunjhunwala bought 1.29 crore shares (0.5 percent stake) in Yes Bank at an average price of Rs 67.1 in the open market.