
YES Bank shares down 3% as 3-year lock-in period expires today
The 3-year lock-in period for SBI expires today, while for other shareholders such as Axis Bank, ICICI Bank, IDFC First Bank, HDFC Bank, it will end on March 13.
The 3-year lock-in period for SBI expires today, while for other shareholders such as Axis Bank, ICICI Bank, IDFC First Bank, HDFC Bank, it will end on March 13.
Shares of Yes Bank dropped 9% to ₹17.85 apiece on the National Stock Exchange (NSE).
The private lender has completed the sale of ₹48,000 crore stressed asset loan portfolio of the bank to JC Flowers Asset Reconstruction company.
Thanks to recent surge in share prices, YES Bank jumped to 92nd position in overall m-cap ranking on the BSE.
The bank said it will now engage with the investors for the completion of the proposed fundraise.
The investors and the bank will engage with the RBI to seek an early resolution of the conditions to procure the final approval on this matter.
In July, the private lender selected JC Flowers for the sale of its stressed loans after a consortium of Cerberus Capital and Asset Reconstruction Company of India (ARCIL) withdrew from the bid.
Dish TV shares have fallen nearly 24% in the last three sessions after its chairman Jawahar Lal Goel resigned from the company's board.
The Sensex and Nifty are poised to drop on Wednesday, following broad losses in Asia and on Wall Street overnight ahead of an expected fed rate hike.
Dish TV share price has surged 61% in the past one month after the promoter family Essel Group agreed to step down from the company’s board.