Another Rana Kapoor company sells 1.8% in YES Bank

Mumbai: Yes Capital (India) Pvt Ltd (YCPL), the second holding company controlled by Yes Bank co-founder Rana Kapoor has reduced its shareholding in the bank by 1.80 per cent to prepay Rs 630 crore borrowed from Franklin Templeton Asset Management through non convertible debentures (NCDs).

In a press release the company said the proceeds of the share sale will be utilised to prepay the entire balance outstanding NCDs of YCPL subscribed by various schemes of Franklin Templeton Asset Management. Data from NSE showed that YCPL had sold 2.74 crore Yes Bank shares at Rs 52.19 a piece, generating more than Rs 143 crore.

This is the second time within a week that a Rana Kapoor holding company has sold shares to prepay its NCDs. Last week another holding company Morgan Credits Pvt Ltd (MCPL), sold 2.3 per cent stake in the bank to prepay NCDs to Reliance Nippon AMC.


With the prepayment by YCPL the company has made a full and final prepayment to Franklin Templeton of entire outstanding NCDs ahead of the scheduled maturity date of October 2020. The latest sale reduce the total promoter holding in Yes Bank to 13.4 per cent and cuts the Rana Kapoor group’s stake to 5.60 per cent from 7.40 per cent last week.