Private sector lender Yes Bank on October 14 sold 6.56% stake in leading hospital chain Fortis Healthcare for a little over Rs 645 crore through an open market transaction.
After the sale, Yes Bank now holds just 1,850 shares in Fortis Healthcare, 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.
Yes Bank offloaded 6.56% stake in Fortis Healthcare for a little over Rs 645 crore through an open market transaction.https://t.co/RFcAjMKVOs
— BloombergQuint (@BloombergQuint) October 15, 2019
The shares were offloaded at an average price of Rs 130.27, valuing the transaction size at Rs 645.09 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 per cent 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 Rs 40 while Fortis closed the counter at Rs 130.55 losing 5.36%.
#CNBCTV18Market | Market opens little changed; major indices hold on to gains, YES BANK leading gains after announcing recovery of Rs 645 cr
— CNBC-TV18 (@CNBCTV18Live) October 15, 2019
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