Yes Bank sells over 2% stake in Fortis Healthcare

By: | Published: December 18, 2018 10:29 PM

Private sector lender Yes Bank said it has sold over 2 per cent stake in Fortis Healthcare Ltd (FHL) in tranches.

Yes Bank, Fortis Healthcare, Yes Bank shares, IHH Healthcare, IHH HealthcareCompanies are required to inform the exchanges if the change in shareholding of an entity is over 2 per cent.

Private sector lender Yes Bank said it has sold over 2 per cent stake in Fortis Healthcare Ltd (FHL) in tranches. “We would like to inform that Yes Bank has sold 1,23,37,323 equity shares having nominal value of Rs 10 each, constituting 2.13 per cent of the paid-up share capital of FHL,” the lender said in a regulatory filing. The bank said the stake was sold in various tranches, last being on December 18, 2018, which resulted in change in holding of the bank by more than 2 per cent of the total shareholding in FHL.

Companies are required to inform the exchanges if the change in shareholding of an entity is over 2 per cent. According to shareholding data on BSE, Yes Bank held 9.33 per cent stake in FHL as on November 21, 2018. On Monday, Malaysia-based IHH Healthcare said it will not be able to proceed with open offer for FHL for the time being, following the Supreme Court order to put on hold sale of controlling stake in the Indian hospital chain.

However, the apex court’s order does not impact IHH Healthcare’s acquisition of 31.1 per cent stake in FHL for Rs 4,000 crore, which was completed on November 13, it said in a regulatory filing. Stock of Yes Bank closed 1.21 per cent down at Rs 178.90 on BSE, while Fortis Healthcare closed 0.84 per cent lower at Rs 136.35.

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