Rana Kapoor, promoter entities sell 2.16% stake in YES Bank; stock plummets 23%

Shares of YES Bank cracked 23 per cent in Tuesday’s trade after promoters informed bourses that they have sold another 2.16 per cent stake in the bank.

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

Recently, the promoter and promoter group entities sold a combined 2.75 per cent stake in the lender through the open market, taking their combined stake in the firm to 6.89 per cent from 9.64 per cent.


With the fresh stake sale, Kapoor and his two family-owned entities, MCPL and Yes Capital (India), now own 4.72 per cent stake in YES Bank.

The bank has earlier stated that the stake sale process was effected purely to deleverage the debt of the entity.

The scrip on Monday tanked over 15 per cent to hit its fresh 10-year low amid concerns over its exposure to Indiabulls Housing Finance.

The shares of the lender closed 22.80 per cent lower at Rs 32 on BSE.