Yes Capital (India) Private Ltd (“YCPL”), part of the Promoter Group of Yes Bank sold 1.8% shareholding in the Bank on Thursday. The proceeds will be utilized to PREPAY ENTIRE (100%) balance outstanding Non-Convertible Debentures (NCDs) of YCPL subscribed by various schemes of Franklin Templeton Asset Management (India) Pvt Ltd. (“FT”).
YCPL had in September 2017 placed rated, zero-coupon NCDs amounting to Rs630cr with FT. These funds were utilized by YCPL towards growth capital for new-age start-up ventures.
Pursuant to the above sale of shares, which was conducted solely to de-leverage YCPL, the Promoter Group has achieved the following highly significant and positive outcomes:
Full and final prepayment to FT of entire outstanding NCDs well ahead of the scheduled maturity date of October 2020.
Reduction in total Promoter / Promoter Group ownership in YBL to 13.4% in full compliance with RBI’s regulatory levels of 15.0%.
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YCPL had in September 2017 placed rated, zero-coupon NCDs amounting to Rs630cr with FT. These funds were utilized by YCPL towards growth capital for new-age start-up ventures.
Pursuant to the above sale of shares, which was conducted solely to de-leverage YCPL, the Promoter Group has achieved the following highly significant and positive outcomes:
Full and final prepayment to FT of entire outstanding NCDs well ahead of the scheduled maturity date of October 2020.
Reduction in total Promoter / Promoter Group ownership in YBL to 13.4% in full compliance with RBI’s regulatory levels of 15.0%.
Quick Trial – 9407533858
or mail us here - support@ethicalresearch.co.in
or visit - http://ethicalresearch.co.in/home/freetrial
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