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Yes Bank Limited Reconstruction Scheme and its Lock in Period 3 years.


Posted on 16-Mar-2020 Comments  0

Dear Client

Greetings From Trade plus!!!

This is with reference to the notification from the Ministry of Finance in the matter of Yes Bank Limited on Friday evening, March 13th, 2020, we would like to inform you that,  75% of YES BANK  shares that you hold will be locked for 3 years and can’t be sold in the market. This won’t be applicable for investors holding the shares less than a hundred (100) shares in the account. (Please CLICK HERE to read the circular). Further to give effect to this notification the depositories are executing a corporate action and changing the ISIN of Yes Bank from INE528G01027 (old) to INE528G01035 (new).

What do you mean by lock in period for these shares?

The lock in period means that, if you are holding more than 100 shares of Yes Bank, you are locked in for 3 years and You will not be able to sell 75% of the shares.  But from tomorrow, 17th March 2020, onwards we will be uploading 25% of shares that you held on 13th March, to the trading terminal and the shares you can sell.

Further If you hold less than 100 shares, you will be able to freely sell all the shares that you’re holding, which means , if you held 100 shares as on 13, March 2020, 75 shares are locked for 3 years, but if you held 99 shares, then  no shares are locked.

It is also stated that 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.

It is also stated to note that, from May 2020, YES bank contract will be removed from the derivative contract trading and the entire contract will expire on 28th May 2020.

We request you kindly to take note of the same and in case of any clarification, you may please contact us on 044-49427576 or write to us at  support@tradeplusonline.com.

With best regards,

Tradeplus Team

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