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 the investors held as of 13th March 2020 EOD 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.
To give effect to the above notification the depositories have executed a corporate action and changed the ISIN of Yes Bank from INE528G01027 (old) to INE528G01035 (new). Please Click here to read the circular from CDSL (Depository) and the Ministry of Finance.
How does it impact you?
If you hold more than 100 shares of Yes Bank, then 75% of shares shall be locked in for 3 years. You will not be able to sell it. Our trading application will show and allow selling only 25% of shares you held as on 13th March.
If you hold less than 100 shares, you will be able to freely sell all your shares and they will not be locked. And if you held 101 shares, 75 shares are locked for 3 years.
Note: BTST trades will not be allowed in Yes Bank, hence, you will not be able to sell shares which are bought on 12th and 13th March, 2020 until you get the delivery of the shares in your demat account.
From Monday 16th March 2020, whatever new shares you buy, you will be able to freely sell them. This 75% restriction is only on shares you held on Friday, 13th March 2020 and not on new shares that you buy from now. From Monday 16th March 2020, whatever new shares you buy, you will be able to freely sell them.