YES Bank shares update on latest developments

Chennai: YES Bank’s share price observed a material drop on 1 October. A press release said, this fall was primarily on account of the forced sale of 10 Crores equity shares (3.92 per cent of the Bank’s equity share capital) triggered by an invocation of pledge on the equity shares of a large stakeholder.

It may be noted that with this sale, the entire pledge stands extinguished and all sale under the same duly completed. The release added, the Bank would like to confirm that it’s financial and operating metrics remain intrinsically sound and stable with liquidity position well in excess of regulatory requirements.

NT Bureau