INSUBCONTINENT EXCLUSIVE:
As of Friday's close, Yes Bank share price had declined more than 42.5% since the RBI directive.Yes Bank shares touched their two-and a
half-year low levels on Friday, before ending over 9 per cent lower, amid uncertainty around the tenure of the lender's CEO, Rana Kapoor
The private sector bank's board had said earlier this week that it would seek approval of the Reserve Bank of India for an extension to
his term beyond January, as it needs more time to identify and groom a successor
Friday's fall takes the total plunge in Yes Bank shares to more than 42.5 per cent since the RBI directive on September 21.Mr Kapoor said
on microblogging site Twitter on Friday that he was committed to the interests of Yes Bank and its stakeholders."In this leadership
transition at Yes Bank, I continue to remain fully committed to the interests of the Bank and all its stakeholders
I will be fully guided by the Board of Directors of Yes Bank and the Reserve Bank of India," Mr Kapoor said."I will eventually bequeath my
Yes Bank promoter shares to my 3 daughters and subsequently to their children, with a request in my will stating not to sell a single
share," Mr Kapoor tweeted from his Twitter handle @ RanaKapoor_.On Friday, Yes Bank shares touched their fresh 52-week low of Rs 166.15 in
intraday trade on the Bombay Stock Exchange (BSE), before closing at Rs 183.45, down Rs 19.75 or 9.72 per cent
On the National Stock Exchange (NSE), Yes Bank shares hit a 52-week low of Rs 165, before ending at Rs 184.10, with a loss of Rs 19.15 or
9.42 per cent.As of end-June, Mr Kapoor had a direct 4.3 per cent stake in Yes Bank, according to Thomson Reuters Eikon data.Earlier this
week, Yes Bank said that it would seek the nod of the central bank to extend Mr Kapoor's tenure until September 30, 2019
tenure, which ends on January 31."The bank's woes will continue till there is uncertainty around it," R Sreesankar, co-head-institutional
equities at Prabhudas Lilladher, was quoted as saying in a report by news agency Reuters.On Thursday, in response to a query by the NSE, Yes
Bank denied any dealings with Three Sisters Family Office, the investment vehicle run by Mr Kapoor's three daughters, stated the Reuters
report.Yes Bank is the country's fifth-largest private sector bank in terms of assets
