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Last Updated : Oct 14, 2020 02:00 PM IST | Source: Moneycontrol.com

Retail, HNIs, corporates raise stake in Yes Bank in Q2; MFs, foreign investors reduce

HDFC Life Insurance Company, Kotak Mahindra Bank and SBI Capital Markets also lowered their stake in Yes Bank.

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Retail investors, HNIs and corporates increased their stake in Yes Bank during the September quarter, according to the shareholding pattern released on October 13, 2020.

Meanwhile, mutual funds and foreign portfolio investors reduced their shareholding during the quarter.

Mutual funds reduced their stake in the bank to 0.37 percent at the end of September quarter, from 1.70 percent in July. Alternate investment funds cut their stake to 0.71 percent from 0.96 percent in the same period.


FPIs lowered shareholding in the bank to 11.16 percent from 13.72 percent.

Elara India Opportunities Fund and BNP Paribas Arbitrage - ODI seem to have exited the company by selling 1.24 percent and 1 percent stake in the bank.


Generally, the shareholding pattern published on the exchanges disclose names of all shareholders holding more than 1 percent of total number of shares.

FPIs reduced their stake by 2.56 percent at the end of September quarter, while Elara and BNP's total shareholding stood at 2.24 percent. That means other FPIs also cut their stake and their names were not available due to the above minimum 1 percent shareholding rule.

HDFC Life Insurance Company, Kotak Mahindra Bank and SBI Capital Markets also lowered their stake in Yes Bank. Kotak Mahindra Bank invested in Yes Bank at the time of restructuring implemented by RBI.

SBI Capital Markets was the underwriter in Yes Bank FPO which was subscribed 95 percent in July. Its name appeared in the shareholding pattern only after Yes Bank FPO.

However, retail investors (which comes under the category of "individual having share capital upto Rs 2 lakh") increased stake in the bank significantly to 20.29 percent at the end of September, from 13.58 percent in July and high networth individuals (category - "Individual share capital in excess of Rs 2 lakh") raised to 5.09 percent from 3.03 percent.

Corporates also upped their stake in lender sharply to 11.95 percent from 2.99 percent during same period. NBFCs registered with RBI, too, held 4,37,08,250 equity shares in Yes Bank (representing 0.17 percent of total paid up equity), against 7,57,000 shares (0.003 percent) in July.

Among others who retained their shareholding, Bay Tree India Holdings and Amansa Holdings, which had acquired 7.48 percent and 1.24 percent stake via anchor portion of FPO on July 14, retained their stake at the end of September.

ICICI Bank, SBI, Axis Bank, IDFC First Bank and Bandhan Bank together held 38.73 percent stake in Yes Bank. They had invested in bank during restructuring.

The Reserve Bank of India had restructured the bank and its shareholding in April after the fraud by founder Rana Kapoor who had once proudly described Yes Bank shares as "diamonds" that are forever.

LIC held 4.99 percent and SBI Life Insurance 1.54 percent stake at the end of September quarter, which all remained unchanged in September quarter.

First Published on Oct 14, 2020 02:00 pm