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If you hold more than 100 shares of Yes Bank, you are locked in for 3 years. You will not be able to sell it. Kite will start showing only 25\% of shares you held on 13th March, the shares you can sell.
Update March 15, 2020: There was a notification from the Ministry of Finance in the matter of Yes Bank Limited on Friday evening, March 13th, 2020. As per this, 75\% of all shares that you hold will be locked for 3 years and can’t be sold. This won’t be applicable for investors holding less than a hundred (100) shares.
What is the new Isin of Yes Bank?
To give effect to the above notification the depositories are executing a corporate action and changing the ISIN of Yes Bank from INE528G01027 (old) to INE528G01035 (new). Click here to read the circular from CDSL (Depository) and the Ministry of Finance.
What to do with Yes Bank stock after FPO?
Anil Singhvi explains what to do with the stock. The Market Guru said that Zee Business had previously advised investors to sell their old holdings and buy from the FPO. That would have given bumper returns to investors. At the time of FPO, the Yes Bank shares were already trading around Rs 25.
We will update as soon as they are delivered. You will also not be able to see Yes Bank shares bought on Monday, 16th March 2020 (yesterday) in your T1 holding (no BTST trades). You will be able to see and sell them only after the stock is delivered to your account after 2 days.
If you hold less than 100 shares, you will be able to freely sell all the shares that you’re holding. What this means is that if you held 100 shares, 75 shares are locked for 3 years, but if you held 99 shares no shares are locked. From Monday 16th March 2020, whatever new shares you buy, you will be able to freely sell them.