On Thursday, shares of Yes Bank fell more than 25 percent to Rs 42.80 apiece on NSE, after the single largest promoter Madhu Kapur, widow of deceased co-founder Ashok Kapur, sold 2.5 crore shares in a block deal.
On Wednesday, Kapur sold 2.5 crore shares of the 17.6 crore shares held in the bank at Rs 65 a piece for Rs 161 crore. The portion sold makes for 14 percent of her stake in the recently restructured bank.
Yes Bank's reconstruction scheme, approved by the government, does not allow shareholders with over 100 shares in possession to sell 75 percent of their shareholding for three years.
Yes Bank also notified in its filing that Kapur has pledged an additional 0.098 percent or 25 lakh share of her family's shareholding of 6.87 percent in the bank with HSBC Investdirect Financial Services India on 6 March 2020. This is just one day after the Reserve Bank of India (RBI) placed Yes Bank under moratorium and superseded its board.
The moratorium is now lifted and the bank has reopened its banking services in full.