Money & Banking

SBI becomes largest shareholder of Yes Bank

Our Bureau Mumbai | Updated on March 17, 2020 Published on March 17, 2020

Yes Bank promoter Madhu Kapur’s stake in the private sector lender has come down to just about 1.67 per cent under the new reconstruction scheme. State Bank of India has become the largest shareholder in Yes Bank with 48.21 per cent stake and 605 crore shares.

According to shareholding data put out by Yes Bank on Tuesday, Madhu Kapur holds 1.38 per cent stake amounting to 17.27 crore shares. Another promoter group entity Mags Finvest now holds 0.3 per cent stake or 3.72 crore shares. Meanwhile, the bank’s other co-founder Rana Kapoor’s family firm Yes Capital owns just 900 shares in the private sector lender.

Kapoor along with Madhu Kapur’s husband – the late Ashok Kapur had founded Yes Bank in 2003 with Kapoor as the Managing Director and CEO and Kapur as the Chairman.

The changes in shareholding come after the reconstruction plan by the government and the Reserve Bank of India where in the authorised share capital of Yes Bank has been altered to ₹6,200 crore from ₹1,100 crore. Meanwhile, Housing Development Finance Corporation and ICICI Bank hold 7.97 per cent stake and 100 crore shares each in Yes Bank.

Private sector lender Axis Bank holds 4.78 per cent equity in Yes Bank with 60 crore shares and Kotak Mahindra Bank owns 3.98 per cent stake in the reconstructed bank. Federal Bank and Bandhan Bank hold 2.39 per cent equity in Yes Bank each and IDFC First Bank holds 1.99 per cent equity in Yes Bank.

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Published on March 17, 2020
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