As per this, 75% of all shares that you hold will be locked for 3 years and can’t be sold. This won’t be applicable for customers holding less than a hundred (100) shares.
To give effect to the above notification the depositories are executing a corporate action and changing the ISIN of Yes Bank from INE528G01027 (old) to INE528G01035 (new).
You read the circular from CDSL (Depository) and Ministry of Finance here.
So what does this mean for you?
1. If you hold more than 100 shares of Yes Bank, you are locked in for 3 years. You will not be able to sell it. So Kite will start showing only 25% of shares you held on 13th March, the shares you can sell. The total quantity including the locked shares will be shown on Console.
2. If you hold less than 100 shares, you will be able to freely sell all the shares that you’re holding. What this means is that if you held 100 shares, 75 shares are locked for 3 years, but if you held 99 shares no shares are locked.
3. 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 evening Friday, 13th March 2020 and not on new shares that you buy from now.
Note: BTST trades will not be allowed in Yes Bank, hence, you will not be able to see/sell shares bought on March 12 and 13 on Kite until you get the delivery of the shares in your demat account.
No comments:
Post a Comment