Private lender YES Bank on Monday sold 6.6 per cent equity stake amounting to more than 49.5 million shares of Fortis Healthcare in a bulk deal. The shares were sold at Rs 130.27 a piece fetching YES Bank Rs 645 crore.
After the share sale, YES Bank has completely exited Fortis Healthcare. The lender in June had sold a little over 2 per cent stake in the company. After the deal, YES Bank's stake reduced to 6.76 per cent as prior to the sale the lender had around 8.76 per cent stake.
YES Bank had become Fortis's biggest shareholder with an approximate 17 per cent stake, after it and other lenders in March 2018 called in the shares that had been put up as collateral by founders Malvinder Singh and Shivinder Singh.