Rana Kapoor's family sells another 1.8% in YES Bank; stock falls 4.9%

YES Capital sold 46.5 million shares at Rs 51.94 apiece

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Current affairs: YES Capital, one of the promoter entities of YES Bank, on Thursday sold 1.8 per cent stake in the private lender. The share sale helped the promoter group entity, owned by Rana Kapoor’s family, raise around Rs 240 crore. YES Capital sold 46.5 million shares at Rs 51.94 apiece.

YES Capital said the proceeds would go to Franklin Templeton Asset Management, with whom its shareholding of YES Bank was pledged. “The proceeds will be utilised to prepay entire balance outstanding non-convertible debentures (NCDs) of Yes Capital subscribed by various schemes of Franklin Templeton,” said the firm in a release.

Last week, another promoter entity Morgan Credits had sold 2.3 per cent stake in YES Bank for Rs 337 crore to prepay a certain part of its outstanding dues to...read more

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