The Yes Bank Ltd stock has lost at least 40% in the past few weeks, more than double the loss of BSE’s banking index Bankex. Close to Rs.8,000 crore worth of investors’ wealth has evaporated, and the two promoters of the bank, Rana Kapoor and the successors of the late Ashok Kapur, have lost around Rs.2,000 crore.
Kapoor, MD and CEO, and his family hold a 13.72% stake in the bank, and Kapur’s successors 11.92%. Madhu Kapur, the widow of Ashok Kapur, moved the court in the first week of June. Madhu Kapur's contention is her daughter Shagun Gogia should have got a seat on the board of the bank but she had been denied that. The family also feels the bank is not giving recognition due to the late Ashok Kapur for its success.
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