Yes Bank acquires 17.31 per cent stake in Fortis Healthcare
Following the call for about 9 crore pledged shares in the previous month, banking major Yes Bank acquired 17.31 per cent stake in health care company Fortis Healthcare on Wednesday.
Fortis Healthcare announced in a regulatory filling that Yes Bank has acquired 8,97,81,906 equity shares having nominal value of Rs10 per share of the company pursuant to invocation of pledge on the said equity shares post the default by promoter group companies in the credit facility provided by the bank.
After the acquisition by Yes Bank, the stake of the promoter firm Fortis Healthcare Holdings and its promoters and family entities got reduced to 5.87 per cent from 34.43 per cent earlier .
Post the development, Fortis hit an intraday high of Rs. 161 per share, up by nearly 5 per cent on BSE on Wednesday. The stock hit an intraday low of Rs. 154.80 per share on BSE during the trade session.
The stock had touched its 52-week high of Rs. 230.90 per share on May 3, 2017 and its 52-week low of Rs. 106.65 per share on February 6, 2018 on BSE, respectively. The stock ended at Rs. 158.75 per share, higher by 4.10 per cent on BSE on Wednesday.