India’s Yes Bank sells 2.66% stake in CG Power in several tranches

Photo: Reuters

Yes Bank Ltd has sold 16.65 million shares, constituting 2.66% of the paid-up share capital, of CG Power & Industrial Solutions Ltd in multiple tranches over the past few days, the lender said in a filing to stock exchanges.

At 09:39 am, shares of Yes BanThe bank now holds 10.12% stake in CG Power.k Ltd were up 2.49% to 26.75, CG Power fell 4.97% to 9.76 and the benchmark index, Sensex gained 0.39% to 36498.88.

On Wednesday, shares of CG Power fell 5% to close at 10.27 on the BSE and Yes Bank gained 1.36% to close at 26.10, while the benchmark index, Sensex lost 0.94% to close at 36329.01.

Since the beginning of the year, CG Power lost 5% and Yes Bank has lost 44% against a fall of 12% in the Sensex. From March lows, shares of CG Power more than doubled and Yes Bank shares rose close to five times, while Sensex was up 42%.

This article was first published on livemint.com.

Singapore Reporter/s

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Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.