<http://www.dealcurry.com/2010064-Rabobank-May-Oflload-Stake-in-Yes-Bank.htm>
*Rabobank *is planning to offload its 15.9% stake in *Yes Bank Ltd*, inorder to start its own branch in India. As per Indian banking regulations, a foreign bank that holds a stake in a domestic bank cannot simultaneously operate a branch network in the country. *Rabobank International Holding BV* has started negotiations with investors for its stake sale and may take place in phased manner due to more than one investor. Yes Bank was started in 2004 by *Rana Kapoor* and Late *Ashok Kapur*. Rabobank had committed to remain invested in the lender for at least five years atleast till March 2009. Rabobank currently operates in India through Rabo India Finance Ltd, a non-banking financial company (NBFC). Rabobank's stake in Yes Bank declined initially from 20% to 15.9%, after Yes Bank raised capital from the market and other investors. Promoter Rana Kapoor holds 5.89% stake, while wife of Late Ashok Kapur, *Madhu Kapur* holds 10.34%. RBI’s norms do not allow a single entity to hold more than 5% and a group more than 10% in a bank and hence Rabobank will not be able to sell its stake to a single entity. In January, the bank had raised Rs1,033 crore through QIP, which led to an equity dilution of 11.3%. Yes Bank's capital adequacy ratio stood at 20.6% with an asset base of Rs.36,382.5 Cr as on March 2010. It posted a net profit of Rs477.7 Cr crore for 2009-10. -- Regards Hardik Shah -- You received this message because you are subscribed to the Google Groups ""GLOBAL SPECULATORS"" group. To post to this group, send email to [email protected]. To unsubscribe from this group, send email to [email protected]. For more options, visit this group at http://groups.google.com/group/globalspeculators?hl=en.
