Yes Bank has acquired 89,781,906 equity shares, constituting 17.31 percent of the paid-up share capital of Fortis Healthcare.
Shares of Fortis Healthcare advanced 5.6 percent intraday Wednesday as Yes Bank acquired stake in the company.
Yes Bank has acquired 89,781,906 equity shares, constituting 17.31 percent of the paid-up share capital of Fortis Healthcare, pursuant to invocation of pledge on the said equity shares subsequent to default by promoters group companies in the credit facility provided by the bank, company said in release.
At 09:52 hrs Fortis Healthcare was quoting at Rs 158.75, up Rs 6.25, or 4.10 percent, while Yes Bank was quoting at Rs 310.10, down 0.96 percent on the BSE.
The share touched its 52-week high Rs 230.90 and 52-week low Rs 106.65 on 03 May, 2017 and 06 February, 2018, respectively.
Currently, it is trading 31.25 percent below its 52-week high and 48.85 percent above its 52-week low.Posted by Rakesh Patil