Never miss a great news story!
Get instant notifications from Economic Times
AllowNot now


You can switch off notifications anytime using browser settings.
12,086.70114.9
Stock Analysis, IPO, Mutual Funds, Bonds & More

Rana Kapoor, Morgan Credits and YES Capital sell remaining 0.8% stake in YES Bank

Shares of YES Bank fell on Tuesday after the company said its promoters sold stake in the company last week.

ETMarkets.com|
Updated: Nov 20, 2019, 09.39 AM IST
0Comments
Yes Bank promoter Rana Kapoor, Morgan Credits and YES Capital sell remaining 0.8% stake
Yes Bank promoter Rana Kapoor, Morgan Credits and YES Capital sell remaining 0.8% stake
NEW DELHI: Rana Kapoor and promoter entities YES Capital and Morgan Credits have sold their remaining 0.8 per cent stake in private lender YES Bank, the company informed exchanges on Tuesday.

As per an exchange filing, the promoters sold 2.04 crore shares in the open market during November 13-14. The promoter entities now hold a token of 900 shares in the lender.

Shares of YES Bank fell on Tuesday after the company said its promoters sold stake in the company last week. The shares of the lender closed 2.66 per cent lower at Rs 64.15 on BSE.

Before this, YES Capital, Morgan Credits and Rana Kapoor together sold 552 lakh shares, or 2.16 per cent stake in the open market during September 26-27.

Reliance Nippon Life Asset Management also invoked 3.92 per cent of its stake in YES Bank at September end. At the end of September quarter, Rana Kapoor held 3.92 per cent in the company while YES Capital held 0.8 per cent.

Ace investor Rakesh Jhunjhunwala on November 4, bought 1.30 crore shares or 0.51 per cent stake in YES Bank. Jhunjhunwala picked up shares at Rs 67.10 per share, putting the deal value at around Rs 86.89 crore.

In September 2018, Kapoor had compared YES Bank shares with diamonds. "Diamonds are forever: My promoter shares of YESBANK are invaluable to me," he tweeted on September 28, 2018. "I will eventually bequeath my YESBANK promoter shares to my three daughters and subsequently to their children, with a request in my Will stating not to sell a single share, as diamonds are forever!," he had said

Kapoor and family held 10.66 per cent stake in YES Bank back then, making him the largest shareholder (and promoter) of the mid-sized private bank.

Latest shareholding data available with BSE revealed that individual investors, including high net worth individuals, now own 29.94 per cent stake against 20.46 per cent as of June 30.

Also Read

Rana Kapoor-owned Morgan Credits pays Rs 792 crore to RNAM

Rana Kapoor’s Morgan Credits prepays Rs 70 crore more to RNAM

Rana Kapoor, Morgan Credits pledge 7.34% stake in YES Bank worth Rs 1,500 crore

Comments
Add Your Comments
Commenting feature is disabled in your country/region.
Download The Economic Times Business News App for the Latest News in Business, Sensex, Stock Market Updates & More.

Other useful Links


Copyright © 2019 Bennett, Coleman & Co. Ltd. All rights reserved. For reprint rights: Times Syndication Service