YES Bank surges 15% on report Rana Kapoor may sell stake to Paytm

YES Bank, however, issued a clarification to the stock exchanges, saying the reports were 'speculative in nature'

YES Bank shares zoomed 15 per cent to Rs 72.55 apiece in early morning trade on the BSE on Wednesday, on reports that the private lender's co-founder Rana Kapoor was in talks with One97 Communications, owner of Paytm, to sell his stake.

Kapoor and his associate entities owned 10.6 per cent in the bank at the end of June 2019. Around 7.34 per cent of the Kapoor family stake has been pledged with Reliance Nippon Asset Management Company (RNAMC).

At 10:02 AM, YES Bank was trading 5.78 per cent higher at Rs 66.75 as compared to 0.35 per cent gain