Share sale overhang on YES Bank as three-year lock-in nears end for lender

Passive trackers likely to sell 67 mn shares; another 1.35 bn could be offloaded by individual investors

Shares of YES Bank could witness downward pressure as exchange traded funds (ETFs) and individual investors could make a dash for exit as soon as the forced lock-in period ends on March 13.

These investors held stakes in the bank before the reconstruction scheme, which imposed a three-year lock-in on 75 per cent of shares held by existing investors.

Prior to its recapitalisation plan, the private sector lender was a member of the widely-tracked Nifty and Bank Nifty indices.

The stock was deleted from the Nifty and the Bank Nifty index February 18. But the change was to become effective