Yes Bank acquires 17.31% stake in Fortis Healthcare after credit default

Private sector Yes Bank on Tuesday said it owns over 17 per cent stake in Fortis Healthcare post invocation of pledge of equity shares after default by promoters group companies.

Yes Bank has acquired 89,781,906 equity shares, constituting 17.31 per cent of the paid up share capital of Fortis Healthcare Ltd.

The bank in a regulatory filing to exchanges said it was a result of "invocation of pledge on the said equity shares subsequent to default by promoters group companies in the credit facility provided by the bank." Stock of Yes Bank closed 0.53 per cent up at Rs 313.10 on BSE.