Yes Bank reduces stake in Fortis Healthcare by 2%

Industry:    June, 2019

Yes Bank has reduced its stake in Fortis Healthcare by around 2% by selling over 1.51 crore shares of the company in various tranches, according to a regulatory filing by the healthcare firm.

The private sector lender had 8.76% stake in Fortis Healthcare before these transactions.

According to the filing to the BSE, Yes Bank sold 1,51,06,283 equity shares of the company, constituting 2.0010% of the paid-up share capital of Fortis Healthcare Ltd as on 31 March 2019, in various tranches, last being on 7 June 2019.

The shares were sold in open market between 20 December 2018 to 7 June 2019.

After the sale, the bank now has 6.76% stake in the healthcare chain.

Currently, Northern TK Venture Pte Ltd as promoter of Fortis Healthcare holds 31.17% stake in the company.

Shares of Fortis Healthcare Tuesday closed at 132.55 per scrip on the BSE, up 4.29% from its previous close.

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