INSUBCONTINENT EXCLUSIVE:
NEW DELHI: Shares of YES Bank were trading higher in Wednesday's session after the bank informed bourses that its representatives met with
Rare Enterprises on July 22.
Rare Enterprises is a private equity company headed by ace investors and billionaire Rakesh Jhunjhunwala.
The
an entity linked to his family, has also pledged its 7.02 crore shares in the bank.
The scrip was trading 1.50 per cent up at Rs 92.05 at
around 9.40 am (IST), while the benchmark BSE Sensex was trading 96 points, or 0.25 per cent, up at 37,887 at around the same
time.
Collectively, the stake pledged by both the entities stood at 7.34 per cent which is valued at Rs 1,543 crore as on Tuesday's closing
price on the BSE.
The pledges were created last Thursday and Monday, in favour of Milestone Trusteeship Services, the debenture trustee, for
the benefit of the holders of debentures issued by Morgan Credits, the statement said.