Yes Bank Sells Over 2 percent Stake in Fortis Healthcare

Private sector lender Yes Bank said it has sold over 2 percent stake in Fortis Healthcare Ltd (FHL) in tranches. “We would like to inform that Yes Bank has sold 12,337,323 equity shares having nominal value of Rs 10 each, constituting 2.13 percent of the paid-up share capital of FHL,” the lender said in a regulatory filing. The bank said the stake was sold in various tranches, last being on December 18, 2018, which resulted in change in holding of the bank by more than 2 percent of the total shareholding in FHL. Companies are required to inform the exchanges if the change in shareholding of an entity is over 2 percent. According to shareholding data on BSE, Yes Bank held 9.33 percent stake in FHL as on November 21, 2018. On Monday, Malaysia-based IHH Healthcare said it will not be able to proceed with open offer for FHL for the time being, following the Supreme Court order to put on hold sale of controlling stake in the Indian hospital chain. However, the apex court’s order does not impact IHH Healthcare’s acquisition of 31.1 percent stake in FHL for Rs 4000 crore, which was completed on November 13, it said in a regulatory filing. – Business Standard