Yes Bank reduces stake in Fortis Healthcare by selling shares worth over Rs 1.51 crore
New Delhi: Yes Bank has reduced its stake in Fortis healthcare (FHL) by around 2 per cent by selling over 1.51 crore shares of the company in various tranches, according to a regulatory filing by the healthcare firm.
The private sector lender had 8.76 per cent stake in FHL before these transactions.
According to the filing to the BSE, Yes Bank sold 1,51,06,283 equity shares of the company, constituting 2.0010 per cent of the paid-up share capital of Fortis Healthcare Ltd as on March 31, 2019, in various tranches, last being on June 7, 2019.
The shares were sold in the open market between 20 December 2018 to 7 June 2019.
After the sale, the bank now has 6.76 per cent stake in the healthcare chain.
Currently, Northern TK Venture Pte Ltd as a promoter of Fortis Healthcare holds 31.17 per cent stake in the company.
Fortis Healthcare Limited (FHL) is a chain of hospitals, headquartered in India. The company started its health care operations from Mohali where first Fortis Hospital was started. Later on, the hospital chain purchased the healthcare branch of Escorts Group and increased its strength in various parts of the country.
The FHL also operates its hospital in Vasant Kunj, Faridabad, Gurgaon. The FMRI hospital at Gurgaon is the headquarter of FHL with all the major facilities at the hospital.