Shares of Yes Bank fell by over 5 per cent today following news that foreign investors will need RBI's approval to buy equity in the private sector lender as it has reached the limit allowed for overseas shareholding.
The stock declined 4.99 per cent to settle at Rs 601.30 on the BSE. During the day, it lost 5.34 per cent to Rs 599.
At the NSE, the scrip was down 5.51 per cent to Rs 598.10.
In terms of volume, 4.49 lakh shares of the company changed hands at the BSE, while more than 42 lakh shares were traded at the NSE during the day.
The Reserve Bank had on Friday said foreign shareholding limit in Yes Bank through FIIs/ Registered Foreign Portfolios Investors (RFPIs)/ NRIs/ Persons of Indian Origin/ Foreign Direct Investment/ American Depository Receipt/Global Depository Receipts has reached the trigger limit.
"Therefore, further purchases of equity shares of this bank would be allowed only after obtaining prior approval of the Reserve Bank," RBI had said in a release.
RBI monitors the ceilings on FII/NRI/PIO investments in Indian companies on a daily basis.
