YES Bank stock slide, promoters seek intervention from Sebi and RBI

Shareholders say negative messages being circulated by short-sellers

The YES Bank promoters have sought an intervention from the Securities and Exchange Board of India (Sebi), and the Reserve Bank of India (RBI), alleging “heightened speculation and short-selling in the YES Bank scrip”.

Key shareholders YES Capital and Morgan Credits — which is owned by Rana Kapoor’s family — have written to the heads of the capital markets and banking regulators, asking them to launch an investigation into the trading pattern of Yes Bank.

The sharp slide in the stock is a burning issue for the promoters, who have pledged a large part of their shareholding. Earlier this week, there