According to a notification from the Ministry of Finance in the matter of Yes Bank Limited, 75% of all shares that one holds will be locked for 3 years and can’t be sold. However, this won’t be applicable for investors holding less than a hundred (100) shares. To give effect to the above notification the depositories have executed a corporate action and changing the ISIN of Yes Bank from INE528G01027 (old) to INE528G01035 (new).
So what does this mean?
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. Your Trading Account will show only 25% of shares you held on 13th March, the shares you can sell. But if you hold less than 100 shares, you will be able to freely sell the entire 100 shares. What this means is that if you held 101 shares, 75 shares are locked for 3 years, but if you held 100 shares no shares are locked.
From today 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.
