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Yes Bank on private investors and ETFs The ban (lock-in period) of the Reserve Bank of India (RBI) on selling the shares for three years is ending on Monday. Analysts say that in such a situation the selling pressure on the shares of Yes Bank may increase. He estimates that investors may sell their shares in the bank on Monday. Major investors in Yes Bank include nine banks led by State Bank of India (SBI). SBI had picked up about 49 per cent shares of the bank at a premium of Rs 8 to Rs 10 per share in March 2020 as part of the RBI’s relief package. Exchange-traded funds (ETFs) are also likely to see withdrawals. SBI held 26.14 per cent or 605 crore shares of Yes Bank till December 2022.
If you are a long term investor then do not forget to sell stock
Head of Equity Markets at Swastika Investmart Girish Sodani told India TV that the financial condition of Yes Bank has improved significantly in the last three years. The bank will start earning profits in the coming years. So, if you are a long term investor, do not sell the stock at a loss. Yes Bank stock can go for a price of Rs 20 to 25 in the medium term.
These banks also have crores of shares
Similarly, HDFC, HDFC Bank and ICICI Bank had one billion shares each. Axis Bank held 60 crore, Kotak Mahindra Bank 50 crore, Federal Bank and Bandhan Bank 30 crore and IDFC First Bank 25 crore. Besides, SBI AMC held 2.36 crore shares of Yes Bank, Kotak AMC 1.19 crore shares, Nippon India 1.05 crore shares in its Nifty 50 ETF. However, most of these have already sold 25 per cent of their shares in Yes Bank, which were not under ‘freeze’.
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