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Last Updated : Oct 14, 2020 11:44 AM IST | Source: Moneycontrol.com

Yes Bank shares trade in the red on reports of declaring Cox & Kings as wilful defaulters

The bank's shareholding pattern shows that foreign portfolio investors added 258.71 crore shares of Yes Bank during the September quarter.

 
 
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Yes Bank shares were in the red in the morning trade on BSE on October 14 amid reports that it had classified Cox & Kings as wilful defaulters.

Mint reported that the bank had classified Cox & Kings, its non-bank lending unit Cox & Kings Financial Services and related entity Ezeego One Travel and Tours, which have total loans of Rs 1,862 crore, as wilful defaulters.

The classification was made in the June quarter and subsequently updated on Yes Bank’s list of defaulters, Mint said, citing data from credit information bureau TransUnion Cibil.

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Yes Bank has an outstanding exposure of Rs 519.44 crore to Cox & Kings and Rs 944.24 crore and Rs 398.37 crore to Ezeego One Travel and Cox & Kings Financial Services, respectively, the Mint report added.

On October 13, the private sector lender released its September quarter shareholding pattern, which showed that foreign portfolio investors (FPIs) added 258.71 crore shares of Yes Bank in the September quarter of FY21.

Among the domestic investors, State Bank of India added 146.67 crore shares in the September quarter. IDFC First Bank added 8.33 crore shares of Yes Bank in the September quarter.

At 1125 hours, shares of Yes Bank were trading 0.77 percent lower at Rs 12.83 on BSE.
First Published on Oct 14, 2020 11:44 am
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