Yes Bank Reduces Stake In Fortis Healthcare

Yes Bank Ltd. has reduced its stake in Fortis Healthcare Ltd. by around 2 percent by selling shares in various tranches, according to a regulatory filing by the healthcare firm.

According to the BSE filing, Yes Bank sold 1.51 crore equity shares in open market between Dec. 20, 2018 to June 7, 2019.

The private sector lender had 8.76 percent stake in Fortis Healthcare before these transactions. After the sale, the bank now has 6.76 percent stake in the healthcare chain.

Currently, Northern TK Venture Pte Ltd., as promoter of Fortis Healthcare, holds 31.17 percent stake in the company.

On Tuesday, Fortis Healthcare shares rose 4.29 percent to Rs 132.55 apiece on the BSE while the benchmark Sensex gained 0.42 percent to end the day at 39,950.46 points.