Yes Bank Acquires 17.31% Stake in Fortis Healthcare
Private sector lender, Yes Bank Ltd has acquired 17.31% stake in Fortis Healthcare Ltd. It followed invocation of nearly 9 crore pledged shares last month. The Yes Bank is India’s fifth largest private sector bank. Rana Kapoor and Ashok Kapur were the founders of the bank. It was incorporated in 2004. It is the only Greenfield Bank licence awarded by the RBI in the last one decade. Whereas, Fortis Healthcare limited is a chain of specialist hospitals in India. Fortis Healthcare limited will be acquired by Manipal Hospitals and TPG Capital along with the sale of 20 per cent stake in diagnostics chain SRL Ltd. the deal is approximately of Rs 3900 crore.
It was announced by Fortis Healthcare that Yes Bank has acquired 8,97,81,906 equity shares having nominal value of Rs10 per share of the company. Experts revealed that the acquired shares amounted to 17.31% of the total diluted share capital of the company with a similar amount of voting rights. On 16 February, the shares were acquired by Yes Bank.