Yes bank block deal: Rs 1600 crore worth of shares exchanged hands today

The company's shares have delivered an impressive return of over 57 per cent in the past year to its shareholders.

Yes Bank Limited is indeed a well-known private bank among retail investors, who are always eager for any news related to the bank.

On May 3, a block deal occurred involving 63.60 crore shares, representing approximately a 2.2 per cent stake of Yes Bank, which changed hands on the exchanges. The deal was executed at an average price of Rs 25 per share, resulting in a total transaction value of Rs 1,602 crore.

Incorporated in 2003, Yes Bank Limited is engaged in providing a wide range of banking and financial services.

The identities of the buyers and sellers in the deal are not officially disclosed. According to reports, the private equity investor, the Carlyle Group, was considering offloading a 2 per cent stake in the company.

Based on the private lender's latest shareholding data, Carlyle owned an 8.74 per cent stake in Yes Bank (post warrant conversion), held through its affiliate entity named CA Basque Investments.

The private equity investor has previously initiated stake sales in Yes Bank. In February of this year, the Carlyle Group sold a 1.35 per cent stake in Yes Bank at Rs 27.10 per share, yielding a total of Rs 1,056 crore. Going back to 2022, the Carlyle Group acquired a 9.99 per cent equity in Yes Bank.

As of the current holding, FIIs and DIIs hold 25.41 per cent and 39.71 per cent respectively and the public holds 34.87 per cent stakes in the company.

As per the Quarterly Results, the bank has posted good results in Q4 FY24, with net profit surged from Rs 206 crore to Rs 467 crore representing an increase of around 127 per cent YoY.

Share Performance

Today, the stock opened at Rs 24.85 per share and reached highs and lows of Rs 25.82 and Rs 24.55 per share, currently trading at around Rs 25.52 per share, reflecting a 0.31 percent increase from the previous day's closing levels of Rs 25.44 per share on the BSE.

The company's current market capitalization stands at Rs 72,840 crore. The stock has delivered an impressive return of around 58 percent in the past one year.

Investors must keep this stock on their radar. It has the potential to become multibagger stock in the future.