Regulatory14 May 2026, 08:20 am
Yes Bank: Axis Trustee Services Invokes Regulation 29(1)
AI Summary
Axis Trustee Services Ltd, acting as the onshore security agent for lenders to Verventa Holdings Ltd, has invoked Regulation 29(1) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011, regarding a pledge of 2,664,580,360 shares (8.49% of issued capital) of Yes Bank. The shares are pledged as security for a facility agreement dated 15 April 2026. Axis Trustee Services clarifies they do not hold any beneficial interest in the shares.
Key Highlights
- Axis Trustee Services invoked SEBI takeover regulations regarding Yes Bank shares.
- The invocation relates to a pledge of 8.49% of Yes Bank's issued capital.
- Verventa Holdings Ltd pledged the shares as security for a facility agreement.
- Axis Trustee Services acts as the onshore security agent for lenders.
- Axis Trustee Services clarifies it holds no beneficial interest in the pledged shares.