Forbes India 15th Anniversary Special

Yes Bank employees reduce shareholdings in bank

According to stock exchange data reviewed in mid-November by Forbes India, at least 24 employees have sold stocks since September 21

Samar Srivastava
Published: Nov 17, 2018 06:01:52 PM IST
Updated: Nov 19, 2018 02:46:44 PM IST

Yes Bank employees reduce shareholdings in bankRana Kapoor, CEO, Yes Bank

In the two months since Yes Bank CEO Rana Kapoor was asked to vacate his position by the Reserve Bank of India (RBI), insiders have been relentlessly selling their stock in the bank as well as taking loans against them.
 
According to stock exchange data reviewed in mid-November by Forbes India, at least 24 employees have sold stocks since September 21; they have sold a total of 14,90,406 shares. The selling accelerated in mid-October when the RBI denied the bank’s request for an extension for Kapoor’s tenure till September 2019. Among the sellers was the bank’s former chief financial officer Rajat Monga. He sold 8 percent of his holding or 5 lakh shares at an average price of ₹188 on October 29.

Yes Bank employees reduce shareholdings in bank