Year to date, the stock of YES Bank has fallen 65 per cent to Rs 64.15 a share
Yes Bank closed on Tuesday 2.66 per cent lower, at Rs 64.15 a share, on the BSE.
Its shares have rallied about 50 per cent -- the biggest gain among global peers valued at more than $1 billion -- after embattled founder Rana Kapoor was forced to sell his holdings in October
The bank, which is known for high growth, is consolidating and taking a measured growth approach, Gill added.
Ravneet Gill, CEO of YES Bank, said the drop in share prices wasn't a reflection of the bank's performance
After the recent share sales, the family's stake in the bank has shrunk to around 1 per cent, showed an analysis of exchange data
According to the rating note, these NCDs are Zero Coupon Bonds set for maturity on April 19, 2021.
Kapoor has pledged shares of Yes Bank to RNAM, the asset manager of Reliance Mutual Fund, as collateral
Thus far in financial year 2019-20 (FY20), the share price of YES Bank has plunged 85 per cent, against a per cent fall in the Sensex.
In September 2017, YCPL headed by YES Bank Promoter Rana Kapoor had placed rated zero-coupon NCDs amounting to Rs 630 crore with Franklin Templeton
YES Capital, part of the promoter group of YES Bank, sold 1.8 per cent shareholding in the bank for around Rs 240 crore.
YES Capital sold 46.5 million shares at Rs 51.94 apiece
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YES Bank, however, issued a clarification to the stock exchanges, saying the reports were 'speculative in nature'
According to reports, Kapoor has held preliminary talks with Vijay Shekhar Sharma, founder of One97 Communications
In addition to the tech investor, smaller investors could pump in about $200 million to $250 million, Gill said
The pledge was created in favour of the debenture trustee for the benefit of the debenture holders of Morgan Credits, the bank informed the stock exchanges
Ex-CEO Rana Kapoor loses $1 billion as shares drop 78% since August; Jefferies cuts lender's price target to Rs 50 from Rs 80
Family office run by Rana Kapoor's three daughters is working with Nomura Holdings Inc. on a potential deal.
RBI has asked the bank to start the search for Kapoor's successor