Yes Bank halts 4-session rally; shares tumble over 29 per cent

NEW DELHI: Shares of Yes Bank on Thursday halted its four-session rally and plunged over 29 per cent after the company said its single largest promoter Madhu Kapur has pledged an additional 25 lakh share of her family’s shareholding in the bank.

The scrip plummeted 25.74 per cent to Rs 45.15 at the BSE. On the NSE, it cracked 29.19 per cent to Rs 42.80. In the last four trading days, the company’s scrip had risen a whopping 142 per cent after Moody’s upgraded the company’s ratings and on the announcement of a restructuring plan.

Yes Bank, which came out of the RBI moratorium on Wednesday evening, said its single largest promoter Madhu Kapur, the widow of its founder chairman Ashok Kapur, has pledged an additional 0.098 per cent or 25 lakh share of her family’s shareholding of 6.87 per cent in the bank.

In an exchange filing last evening, the bank said Kapur has only 0.117 per cent or 3 lakh shares which are not pledged now.