Money & Banking

YES Bank shareholding sees further changes in Q1

Surabhi Mumbai | Updated on July 24, 2020 Published on July 24, 2020

The YES Bank board will be meeting on July 28 to finalise and approve the first quarter results.   -  Nagara Gopal@thehindu

Kotak Mahindra Bank, Federal Bank, IDFC First Bank and Madhu Kapur pare their stake marginally

Private sector lender YES Bank saw changes in its shareholding in the three-month period between March 31, 2020 and June 30, 2020 with three banks paring their stakes marginally.

According to shareholding data for the first quarter of the fiscal, Kotak Mahindra Bank’s stake in YES Bank stood at 3.51 per cent as against 3.61 per cent at the end of the fourth quarter last fiscal.

Similarly, IDFC First Bank’s stake too was down marginally to 1.64 per cent in YES Bank as on June 30, 2020 from 1.67 per cent as on March 31, 2020.

Another lendr, Federal Bank’s shareholding in YES Bank also came down marginally and stood at 1.89 per cent at the end of the first quarter of 2020-21 from 1.92 per cent at the end of the fourth quarter of 2019-20.

The bank has also reclassified its former promoter Madhu Kapur as a public shareholder. She held 1.1 per cent stake in YES Bank at the end of the first quarter this fiscal, slightly down from 1.12 per cent in the previous quarter.

RBI revamp plan

Significantly, all the three lenders had pared their holdings marginally in YES Bank in the period from when they invested in it as part of the dramatic reconstruction plan set out by the Reserve Bank of India and Finance Ministry.

The latest shareholding pattern would have altered more with the further-on- public-offer by YES Bank where it raised close to ₹15,000 crore. The allotment of shares took place on July 23.

A consortium of eight banks and financial institutions led by State Bank of India had invested ₹10,000 crore in the troubled private sector lender as part of the reconstitution plan and had picked up a total of 79.68 per cent stake.

As per shareholding data on March 14, 2020, SBI had 48.21 per cent stake, followed by ICICI Bank and HDFC (7.97 per cent each), Axis Bank (4.78 per cent), Kotak Mahindra Bank (3.98 per cent), Federal Bank and Bandhan Bank (2.39 per cent each), and IDFC First Bank (1.99 per cent).

The bank’s board will be meeting on July 28 to finalise and approve the first quarter results.

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Published on July 24, 2020
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