Jhunjhunwala buys 0.5% stake in Yes Bank

New Delhi: Veteran equities investor Rakesh Jhunjhunwala has purchased nearly 1.3 crore shares of Yes Bank Ltd. for around Rs 87 crore through open market transactions.

According to bulk deal data available with the Bombay Stock Exchange, Jhunjhunwala purchased 12,950,000 shares, amounting to 0.5 percent stake, of Yes Bank. The shares were bought at an average price of Rs 67.10, valuing the transaction at Rs 86.89 crore, the data showed.

On Monday, Yes Bank shares fell 0.75 percent to Rs 66.10 apiece on the BSE after the private lender reported loss of Rs 600 crore on a one-time tax adjustment.

The bank has lost 63 percent of its market value since January on account of asset quality woes. Last month it stated that it was looking to raise further equity and is in discussions with investors who are willing to pump in more than $3 billion in the private sector lender.

In a separate transaction on the bourse, Vistra ITCL India Ltd. sold over 6.2 crore shares of CG Power & Industrial Solutions Ltd. at Rs 13.97 apiece, valuing the deal at Rs 87.45 crore.