The lender said it acquired a 24.19% stake in direct-to-home service provider by invoking pledges against 44.53 equity shares kept as collateral with the private lender for a loan 
Special 
The lender said it acquired a 24.19% stake in direct-to-home service provider by invoking pledges against 44.53 equity shares kept as collateral with the private lender for a loan YES Bank shares were trading 4.2% higher on Monday after the lender announced that it has acquired 24.19% in Dish TV India through the invocation of pledged shares. In a related development, Madhu Kapur, Shagun Kapur Gogia, Gaurav Kapur and Mags Finvest Pvt Ltd. ( a Madhu Kapur group entity) - decided to give up their status as YES Bank promoters.
The lender said it acquired a 24.19% stake in direct-to-home service provider by invoking pledges against 44.53 equity shares kept as collateral with the private lender for a loan.
"Shares have been acquired pursuant to invocation of the pledge of the shares subsequent to default/breach of terms of credit facilities sanctioned by Yes Bank to Essel Business Excellence Services Ltd, Essel Corporate Resources, Living Entertainment Enterprises, Last Mile Online, Pan India Network Infravest, RPW Projects, Mumbai WTR Private Ltd & Pan India Infraprojects," the bank said.
"The Bank would take further necessary action to give effect to this," the official statement added.
On Saturday, YES Bank said there would be a reclassification of shareholding after Madhu Kapur and family decided to give up their status as promoters and agreed to be categorised as non-promoter or public shareholders.
Share price of YES Bank rose 4.2% intraday to Rs 28 as against the last closing value of Rs 26.85 on BSE.
YES Bank shares have gained after two days of consecutive fall. The share price of YES Bank has risen 2.64% in one week. However, it has fallen 2.5% in one month and 41.6% year to date.
Market capitalisation of the lender stood at Rs 34,200.04 crore as of today's session. YES Bank stock price currently trades higher than its 5-day but lower than 20, 50, 100 and 200-day moving averages.
In another filing, YES Bank informed the exchanges that there will be a reclassification of shareholding Madhu Kapur group decided to give up their status as promoters and agreed to be categorised as non-promoter or public shareholders.
Notably, the Madhu Kapur Group has been seeking bigger control over the bank since 2008 following Ashok Kapur's death. The current announcement by the Group ends the years-long controversial battle. Madhu Kapur holds 14 crore or 1.12 per cent of the bank's shares. Another investor Mags Finvest holds 3.72 crore or 0.3 per cent shares.
"Bank has received a letter dated May 28, 2020, from (i) Mrs Madhu Ashok Kapur; (ii) Mrs Shagun Kapur Gogia; (iii) Mr Gaurav Ashok Kapur; and (iv) Mags Finvest Private Limited [collectively referred to as "Madhu Kapur Group"] consenting to reclassify their shareholding in the Bank as 'non-promoter shareholders' (i.e. public shareholders)," Yes Bank told the stock exchanges.
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