Yes Bank Stake Sale

The Union cabinet headed by Prime Minister Narendra Modi approved a rescue plan for Yes Bank, Finance Minister Nirmala Sitharaman said on Friday, as authorities look to prevent a broader banking crisis. The state-owned State Bank of India (SBI), the country's largest lender, will take a 49 per cent stake in Yes Bank, the finance minister said.

has been struggling to raise capital for the past few months and needs the money to bolster ratios that stand just above a regulatory minimum.

According to a stock exchange filing, the promoters sold 2.04 crore shares in the open market during November 13-14.

Yes Bank also confirmed that the DBS acquisition reports were false.

"We are highly dejected that our family shareholding in Yes Bank was sold at such dismal price levels," MCPL said in a statement.

Yes Bank said on Wednesday that the steep fall in its shares the previous day was primarily on account of forced stake sale by a large shareholder. The statement from the private sector lender came a day after the Yes Bank stock nosedived as much as 29.92 per cent during the session before paring some of those losses to still close at its lowest le...

Yes Bank sought to allay concerns, saying that its financial and operational metrics remained "intrinsically sound".

SBI Capital Markets, ICICI Securities and Yes Bank were the only three that expressed interest in managing sale of the group of five companies in the 'Basket One', which also included Oil India (OIL), MMTC, Container Corporation of India (Concor) and India Tourism Development Corp (ITDC).

The stake sale comes after Yes Bank gained 40 per cent this year, while Axis Bank shares have risen 24 per cent.

HSBC sold 3.9 per cent stake in Axis Bank through four block deals. In Yes Bank, HSBC sold its 4.8 per cent stake.

Yes Bank shares were offered between Rs 357-360 per share in a block deal, sources said.

Private sector lender Yes Bank today plunged nearly 7 per cent in morning trade on BSE amid reports that the Netherlands-based investor Rabobank is looking at selling its 10 per cent stake in the bank in order to set up its own banking operations in India. Shares of Yes Bank plummeted 6.63 per cent to touch a low of Rs 263 a piece on the Bo...

The Union cabinet headed by Prime Minister Narendra Modi approved a rescue plan for Yes Bank, Finance Minister Nirmala Sitharaman said on Friday, as authorities look to prevent a broader banking crisis. The state-owned State Bank of India (SBI), the country's largest lender, will take a 49 per cent stake in Yes Bank, the finance minister said.

has been struggling to raise capital for the past few months and needs the money to bolster ratios that stand just above a regulatory minimum.

According to a stock exchange filing, the promoters sold 2.04 crore shares in the open market during November 13-14.

Yes Bank also confirmed that the DBS acquisition reports were false.

"We are highly dejected that our family shareholding in Yes Bank was sold at such dismal price levels," MCPL said in a statement.

Yes Bank said on Wednesday that the steep fall in its shares the previous day was primarily on account of forced stake sale by a large shareholder. The statement from the private sector lender came a day after the Yes Bank stock nosedived as much as 29.92 per cent during the session before paring some of those losses to still close at its lowest le...

Yes Bank sought to allay concerns, saying that its financial and operational metrics remained "intrinsically sound".

SBI Capital Markets, ICICI Securities and Yes Bank were the only three that expressed interest in managing sale of the group of five companies in the 'Basket One', which also included Oil India (OIL), MMTC, Container Corporation of India (Concor) and India Tourism Development Corp (ITDC).

The stake sale comes after Yes Bank gained 40 per cent this year, while Axis Bank shares have risen 24 per cent.

HSBC sold 3.9 per cent stake in Axis Bank through four block deals. In Yes Bank, HSBC sold its 4.8 per cent stake.

Yes Bank shares were offered between Rs 357-360 per share in a block deal, sources said.

Private sector lender Yes Bank today plunged nearly 7 per cent in morning trade on BSE amid reports that the Netherlands-based investor Rabobank is looking at selling its 10 per cent stake in the bank in order to set up its own banking operations in India. Shares of Yes Bank plummeted 6.63 per cent to touch a low of Rs 263 a piece on the Bo...