Yes Bank shares fall 5% after part stake sale in SICAL

Yes Bank’s stake prices dropped by 5 percent hitting the lower price circuit at Rs 18.45 per share on Bombay Stock Exchange’s intraday trade on December 14.

In a Bombay Stock Exchange (BSE) release on December 11, Yes Bank said it had “sold 15,00,000 equity shares having a nominal value of Rs 10 each, constituting 2.56 percent of the paid-up share capital of SICAL logistics limited (SICAL) in various tranches.”

As per the bank, their last transaction was carried out on December 10, 2020, and it resulted in a change in the bank’s holding by more than 2 percent of the total shareholding of SICAL.

SICAL is a retail and supply chain solutions provider and is engaged in stevedoring, customs handling, trucking and steamer agency businesses, mining, port logistics, road and rail transport, container freight station, warehousing and shipping. Coffee Day group acquired SICAL in 2011.

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