Yes Bank acquires 17.31% stake in Fortis Healthcare

Yes Bank acquires 17.31% stake in Fortis HealthcareNew Delhi: Yes Bank has acquired 17.31 per cent stake in Fortis Healthcare following invocation of nearly 9 crore pledged shares last month. Fortis Healthcare said, "Yes Bank has acquired 8,97,81,906 equity shares having nominal value of Rs 10 per share of the company pursuant to invocation of pledge on the said equity shares subsequent to default by promoter group companies in the credit facility provided by the bank." The acquired shares amounted to 17.31 per cent of the total diluted share capital of the company with a similar amount of voting rights, the filing added. The shares were acquired by Yes Bank on February 16, consequent upon invocation of pledge on these shares, it added. Subsequently, the stake of promoter firm Fortis Healthcare Holdings along with promoters (Singh brothers) and other family entities have come down to 5.87 per cent from 34.43 per cent earlier.