Rana Kapoor to sell Yes Bank’s Stakes to Paytm

As per the recent reports, the co founder of the Yes Bank is in talks with Paytm owner Vijar Shekher Sharma to sell him the stakes of the Yes bank. As per the media, Rana Kapoor approached the Paytm owner to sell his and his family’s stakes for Rs. 1800- 2000 crores. The price of the stake has not yet been decided. It is still in the negotiation.  However, the CEO of Yes Bank Ravneet Gill told the Reuters that bank is going to deal with the global technology company to boost the capital of the banking company. In an interview to reuters Ravneet said “We are in fairly advanced level of talks right now and it is close to being a done deal,”

Ravneet informed to the agency that the sale of the stake is likely to be less than 10% which can get increase later. As per the information, the buyer of the stake is definitely in the top three tech companies and the one which has not yet invested in any banking company previously. Although, Ravneet has not yet revealed the name of the buying firm.

Rana Kapoor and his family members along with the investment firms would have 9.64% stake in the Yes Bank. This data is as per the BSE filing at the end of the june quarter. Current valuation the assets of the Rana Kapoor and his family is of worth Rs. 1550 Crores.

If this deal happens between the both companies, then this would be the first time that a fintech company would get noticeable stake in the banking company.

Updated: September 11, 2019 — 12:12 pm