Madhu Kapur pledges more shares, latest one on Mar 6: Yes Bank

Yes Bank, which came out of the RBI moratorium on Wednesday evening, said its single largest promoter Madhu Kapur, the widow of its founder chairman Ashok Kapur, has pledged an additional 0.098 per cent or 25 lakh share of her family's shareholding of 6.87 per cent in the bank.

In an exchange filing this evening, the bank said Kapur has only 0.117 per cent or 3 lakh shares which are not pledged now.

According to the filing, the shares have been pledged with HSBC Investdirect Financial Services India on March 6, 2020just one day after the Reserve Bank superseded its board and brought the bank under a moratorium which was lifted on Wednesday evening.

 

Yes Bank was promoted by the late Ashok Kapur and former CEO Rana Kapoor who is under ED custody now for alleged corruption and money laundering charges.

While before he was asked to leave the bank by RBI in August 2018, Kapoor and his family had held over 13 per cent equity in the bank, last November he sold his entire stake barring 900 shares. The Kapur family had over 9 per cent which successively brought down to 6.87 per cent.