The government’s investment arm, Khazanah Nasional Bhd, has disposed off its entire 4.17 percent stake in India’s YES Bank yesterday for US$110 million (RM330 million).

Khazanah held the 1.467 crore shares or 4.17 percent stake in YES Bank through its Mauritian subsidiary, Titiwangsa Investments, The Hindu reported.

“The stake was sold in a block deal on Monday at a slight discount to the market price,” a banking analyst of a multinational brokerage was quoted as saying in the report.

It also quoted YES Bank managing director and chief executive officer Rana Kapoor as saying:

“The approximately US$110-million transaction at market price, represents strong investment appetite for YES Bank’s stock, reinforcing our resilient business and financial model and significant future growth opportunities.”

However, the entity(ies) which bought the stake, was not disclosed.

Khazanah first invested in YES Bank in March 2007 with an initial investment of two percent.

- Bernama