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YES Bank completely exits Fortis Healthcare, sells 6.6% stake in bulk deal

YES Bank had become Fortis's biggest shareholder with an approximate 17% stake

BS Reporter 

YES Bank

Private lender on Monday sold 6.6 per cent equity stake amounting to more than 49.5 million shares of in a bulk deal. The shares were sold at Rs 130.27 a piece fetching Rs 645 crore.

After the share sale, has completely exited 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.

First Published: Mon, October 14 2019. 21:48 IST
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