Top YES Bank investor Bay Tree cuts stake in troubled lender by a third

Bank has cut back lending to companies and tried to win back depositors after being rescued in March 2020,.

Private equity firm Bay Tree India Holdings has sold a 2.1% stake in India’s Yes Bank, reducing its holding by almost a third.

Bay Tree cut its stake in the embattled lender that was the center of India’s largest financial bailout last year, it said in a statement on Tuesday. It now holds a 5.4% stake after multiple sales in the open market between Jan. 6 to May 6.

Bay Tree was the largest anchor investor in Yes Bank’s $2 billion equity raising last year when it paid 22 billion rupees for about 55% of the investor portion. It’s now