The Economic Times
English EditionEnglish Editionहिन्दीગુજરાતી
| E-Paper
Search
+

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

    Synopsis

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

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

    Related Companies

    NSE
    BSE

    PEER COMPANIES

    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.
    (What's moving Sensex and Nifty Track latest market news, stock tips and expert advice on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds.)

    Also Read

    24 Comments on this Story

    Dhir Bhateja306 days ago
    Rana Kapoor offloading diamonds isn''t surprise.Bigbulls entry enticing foolish investors is bigger surprise
    G P Shenoy307 days ago
    Pride hath a fall
    Anoop Aggarwal307 days ago
    Rana Kapoor has exited the bank he founded. Investors must be extra cautious as he wouldn''t have exited if he had been expecting share value of bank he once described as family diamonds to rise
    The Economic Times