Rabobank sells 11% stake in Yes Bank
The Yes Bank stock was under pressure Tuesday after Rabobank, one of its founding investors, sold 11% stake via block deals. Rabobank sold the stake in Yes Bank at Rs 267 a share, reports CNBC-TV18′s Nimesh Shah.
CNBC-TV18 learns from reliable sources that a whole host of domestic and international investors have bought into this block deal from Rabobank. Among the biggest buyer in the block deal is LIC. Capital Group, Carmignac, Morgan Stanley and China Investment Corp were some of the other buyers, added sources. There was interest shown by domestic mutual funds like Templeton Mutual Fund as well.
In a statement Rabobank said, “Rabobank is obliged under regulations to reduce its shareholding in Yes Bank pending approval of its application for a full banking licence in India. Rabobank is keen to establish its own banking presence in India. We are retaining a 4.9% stake in the bank.”
Rabobank, which held nearly 16% in Yes Bank before the deal, sold 37.3 million shares to a group of domestic and foreign institutional investors.
Source:- Moneycontrol
