Money & Banking

YES Bank sells 6.56% stake in Fortis

Mumbai | Updated on October 14, 2019

Yes Bank is at the epicenter of rising stress in India’s credit markets.   -  Reuters

Private sector lender YES Bank, on Monday, sold almost its entire stake amounting about 6.56 per cent stake in Fortis Healthcare through a bulk deal. Data with BSE revealed that YES Bank sold 4,95,19,990 shares in Fortis Healthcare at an average price of ₹130.27 apiece.

The transaction value is estimated at close to ₹650 crore. The buyers included Eastspring Investments India Equity Open Ltd. “We would like to inform you that YES Bank has sold 5,10,99,265 equity shares having nominal value of ₹10 each, constituting 6.77 per cent of the paid-up share capital of Fortis Healthcare Limited as of June 30 in various tranches last being on October 14, resulting in a change in holding of the bank by more than 2 per cent of the total shareholding of FHL from the last disclosure made by the bank on June 10,” it said in a regulatory filing.

After the sale, YES Bank holds just 1,850 shares in the hospital chain, latest shareholding data available with the BSE showed. For the quarter ended September 30, 2019 YES Bank held 4,95,21,840 shares in the company. Our Bureau

Published on October 14, 2019

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