YES Bank offloads 7 percent stake in Fortis for Rs 645 crore through open market
"YES BANK Limited recovers INR 645 crore of Religare exposure through sale of a 6.77% block of Fortis Healthcare Limited shares, " the private sector lender said in BSE filing.
New Delhi: Private sector lender Yes Bank on Monday offloaded 6.77 per cent stake in leading hospital chain Fortis Healthcare for a little over Rs 645 crore through an open market transaction.
"YES BANK Limited recovers INR 645 crore of Religare exposure through sale of a 6.77% block of Fortis Healthcare Limited shares, " the private sector lender said in BSE filing.
According to the bulk deal data on the exchange, the lender sold 4,95,19,990 shares amounting to 6.559 per cent stake of Fortis. After the sale, the lender now holds just 1,850 shares in the hospital chain, latest shareholding data available with the BSE showed.
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, reports PTI.
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