YES Bank gains after it sells 2.68% stake in SICAL

Shares of YES Bank gained on Friday after the lender sold more than 15 lakh shares, constituting 2.68 per cent of equity stake, of SICAL Logistics in various tranches.

The shareholding of YES Bank in SICAL Logistics has come down to 5.49 per cent post sale of the 15.66 lakh shares, according to a regulatory filing.

The private lender on January 15 had announced acquisition of 60,00,000 equity shares constituting around 10.25 per cent of paid-up share capital of SICAL Logistics through invocation of pledged shares.


The bank on January 23 had sold more than 12 lakh shares of SICAL Logistics, bringing down its stake to around 8 per cent.

Recently, India Ratings (Ind-Ra) has expressed doubts over YES Bank’s fundraising plans. The rating agency said raising sizeable capital in the near-term could be challenging for the company.

The agency maintained 'Rating Watch Negative (RWN)' on long-term bonds of Yes Bank. RWN indicates that the rating will be either affirmed or downgraded.

The shares of the lender closed 0.64 per cent higher at Rs 39.30 on BSE.