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Another promoter of Yes Bank, Madhu Kapur has sold 2.48 crore shares in the company on Wednesday, as per bulk deal data on the NSE. She held more than 17 crore shares prior to Wednesday’s sale. The share price of Yes Bank, which had touched a low of ₹5.6 this month rose to touch a high of ₹87 on Wedesdnay. At the selling price, Kapur managed to raise more than ₹161 crore.
As per an Reserve Bank of India approved restructuring scheme, State Bank of India has picked up 49 per cent stake in the company. Other investors including Kotak Bank and HDFC too picked up stake. But as per the scheme, 75 per cent stake in the company is locked for three years. Of the more than 17 crore shares she held, Kapur too would be able to sell only around 4 crore shares in the bank as the rest of her holding will stay locked in.
Post the restructuring scheme, the shareholding of promoter Madhu Kapur and family has reduced from 8.33 per cent to 1.68 per cent.
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