As per report vijay Shekhar Sharma led One92 Communications, which runs Paytm, is reportedly in talks with rana Kapoor to pick up his stake in Yes Bank. Meanwhile rana Kapoor is likely to sell his and his family’s stake in the bank he co-founded for about Rs 1,800-2,000 crore.
Furthermore these talks are only in exploratory stages and various possible methods are being discussed including infusion of fresh capital. Reportedly it is also being discussed if vijay will invest in his personal capacity of if Paytm will do it as part of a consortium. Presently RBI norms state that any acquisition of shareholding/voting rights of 5% or more will be subject to obtaining prior approval from the RBI and the deal will also have to receive a regulatory nod from Reserve Bank of india (RBI).
Earlier rana Kapoor had pledged his entire stake in the bank and in Morgan Credits to raise Rs 1,500 crore from Nippon Life Asset Management. Meanwhile 30% of this amount has been paid back, Kapoor reportedly wants to sell the unpledged shares of Yes Capital, pay Nippon Life back and keep whatever he makes on top of it. Moreover the deal is far from being finalized, it if goes through, it will be the exit of rana Kapoor from banking.
Hindu Dental College student found dead in hostel in Pakistan Karachi sources stated that a media report said on Tuesday Pakistani Hindu dental college student was found dead in her hostel room in Pakistan's Sindh province with a rope tied to her neck. Reportedly Namrita Chandni, a final year student of Bibi Asifa Dental College in Larkana district, was found lying on a cot by her friends on Monday with a rope tied to her neck and her room locked from inside.
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