Shares of YES Bank slipped more than 4 percent intraday on Tuesday after promoter Rana Kapoor pledged his entire holding of 4.31 percent.

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At 11:26 am, the stock was trading 1.37 percent higher at Rs 92.40 on the NSE. In last one year, the stock has slumped 76 percent.

According to an exchange filing, Morgan Credits pledged 7.02 crore shares of YES Bank accounting 3.03 percent of the total share capital while Rana Kapoor pledged 10 crore shares or 4.31 percent of his total shareholding.

Both Morgan Credits (MCPL) and Rana Kapoor pledged the shares in favour of Minestrone Trusteeship Services, the debenture trustee, for the benefit of the holders of debentures issued by MCPL.

Interestingly, Rana Kapoor last year said in a series of tweets that he will bequeath his shares to his 3 daughters and subsequently to their children. He also said that he will never sell his single share, as diamonds are forever.

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First Published:Jul 23, 2019 11:54 AM IST