YES Bank shares: 3 reasons why this private lender is in focus today
YES Bank shares: 3 reasons why this private lender is in focus today
Shares of YES Bank Ltd will be in focus post the receipt of redemption amount, block deal and conversion of warrants into equity shares by Vervanta Holdings.
With reference to the sale of NPA portfolio to JC Flowers ARC on December 17, 2022, YES Bank, in an exchange filing, said that it has received a redemption amounting to Rs 61 crore from a single trust in the Security Receipts Portfolio.
The net amount is more than the materiality threshold as prescribed under the amended listing regulations.
In another exchange filing, the board of directors of YES Bank approved the allotment of about 127.99 crore equity shares of YES Bank with a face value of Rs 2 each to Verventa Holding, which exercised its rights for conversion on same number of warrants allotted to it on December 13, 2022 at a price of Rs 14.82 per share warrant.
YES Bank has received more than Rs 1,422.58 crore from this conversion as the Verventa paid the remaining 75 per cent of the issue price (Rs 14.82 per share) on the conversion of equity shares against the warrants issue via preferential allotment route.
Post conversion, the total share capital of YES Bank stands at more than 3,132.96 crore equity shares, the filing added.
Carlyle Group, via CA Basque Investments, sold 59.4 crore shares, or about 1.98 per cent stake, in YES Bank on Friday, said the bulk deal data available on the National Stock Exchange.
The United States-based investment firm sold shares at an average price of Rs 24.27 per share amounting to a total of Rs 1,441.63 crore.
On the contrary, Goldman Sachs (Singapore) PTE-ODI emerged as the buyer in the block deal which lapped up about 36.92 crore shares, 1.23 per cent stake in YES Bank. The purchase by Goldman Sachs was done at an average price of Rs 24.26 apiece, amounting to a total of Rs 895.78 crore.
Shares of YES Bank settled at Rs 24.96 on Friday, falling about 1.89 per cent amid the sharp fall in the markets. The total market capitalization of the lender stood at more than Rs 71,800 crore.
Watch Live TV in English
Watch Live TV in Hindi