 "YES Bank")
Morgan Credits (MCPL), the promoter firm of YES Bank, sold Rs 337 crore worth of shares of the lender in a bulk deal on Thursday. This was to prepay a certain part of its outstanding dues to Reliance Nippon Life AMC (RNam). The share sale aggravated the selling pressure on YES Bank, as a result of which its share price closed 15.5 per cent lower.
Rana Kapoor, who holds 4.31 per cent stake in YES Bank (according to a recent QIP offer document) in his individual capacity, said in a statement: “With the sole intention of reducing debt of the promoter
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