Bay Tree India Holdings ILLC has cut its stake by 6.03% in the March-end 2021 and now they come at 5.40%, In December-end 2020 its holding was 7.48 per cent stake in YES Bank.
Bay Tree was the largest anchor investor in Yes Bank’s, they paid 22 billion rupees for about 55% of the investor portion when equity raising $2 billion last year.
They invested about 55% of the ₹4,098 crores the Bank mopped up from anchor investors. All-inclusive the Bank raised ₹14,850 crores (net of share issue expenses) through the FPO.
In the FY2021 along with BTIH, Kotak Mahindra and Axis bank too cut their stake in the private lender. At the end of the March-end 2021 Kotak Mahindra Bank’s and Axis band shareholdings came down to 1.96% in December-end their holdings are at 2.39% and 1.52% from 1.76%.
Currently, the State Bank Of India(SBI) is the biggest investor in YES Bank, with 30% Stake holdings. In the second quarter of FY21, the bank reduced its stake in the private sector from 48.21% to 30%.
YES Bank reported the fourth quarter ended on March 31, 2021, net loss of ₹3,788 crores against a net profit of ₹2,629 crores in the year-ago quarter.
Previously recorded the bad loans and weak corporate governance YES bank led to the collapse in March 2020. The forcing a group of lenders to invest the capital in the bank to rescue it.