Photo: Mint
Photo: Mint

Yes Bank sells 6.56% stake in Fortis Healthcare for Rs645 crore

  • After the sale, Yes Bank now holds just 1,850 shares in the hospital chain
  • On the BSE, Yes Bank shares rise 1.01% at Rs40, Fortis falls 5.36% at Rs130.55

NEW DELHI : Private sector lender Yes Bank on Monday offloaded 6.56% stake in leading hospital chain Fortis Healthcare for a little over Rs645 crore through an open market transaction.

After the sale, the lender now holds just 1,850 shares in the hospital chain, latest shareholding data available with the BSE showed.

According to the bulk deal data on the exchange, the lender sold 4,95,19,990 shares amounting to 6.559% stake of Fortis.

The shares were offloaded at an average price of Rs130.27, valuing the transaction size at Rs645.09 crore.

Eastspring Investments was one of the buyers that purchased the shares of the healthcare company.

At the end of September quarter, Yes Bank owned 4,95,21,840 scrips or 6.56% shareholding in Fortis.

Earlier in June, the bank said it reduced its stake in Fortis by around 2% in various tranches between December 2018 and June 2019.

On the BSE, shares of Yes Bank ended 1.01% higher at Rs40 while Fortis closed the counter at Rs130.55, losing 5.36%.

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