Mobile payments major Paytm-owner One97 Communications is reportedly in discussions for a deal to pick up a stake in private sector lender Yes Bank.
According to reports, the bank’s co-founder Rana Kapoor is in talks with Paytm to sell his stake in the bank. Kapoor and his family hold 9.64% in Yes Bank, of which 69% is pledged with Reliance Nippon Asset Management. Kapoor is reported to have taken consent from Reliance Nippon to sell the shares and return the money of the lender.
As on 15 August 2019, total promoter holding in Yes Bank stood at 17.97%. The bank’s co-founder Rana Kapoor held 3.921% stake while Madhu Kapur held 6.873% stake.