Yes bank buys 8 per cent stakes in RXIL
DSIJ Intelligence / 10 Jun 2016
Yes bank subscribed for 20,00,000 equity shares of Receivables Exchange of India (RXIL), thus buying 8 per cent stakes in company.
Yes bank subscribed for 20,00,000 equity shares of Receivables Exchange of India (RXIL), thus buying 8 per cent stakes in company.
Based on the BSE filing by Yes bank the private banker has executed a share subscription and shareholder's agreement agreeing to subscribe for 20,00,000 equity shares of RXIL. The subscription will be equivalent to 8 per cent of the post- issue paid up capital of RXIL.
NSE's Strategic investment Corporation Limited and Small industries Development Bank of India (SIDBI) had formed a JV to set up RXIL. RXIL incorporated on February 25, 2016 is classified as Indian Non -Government Company and is registered at Registrar of Companies, Mumbai with an authorised share capital of 250,000,000 and its paid up capital is Rs. 4,000,050.
RXIL will be involved in activities auxiliary to financial inter-mediation leaving out insurance and pension funding. Mukesh Agarwal, Ajay Kumar Kapur and Tarun Ramaswamy Aiyar are the directors of RXIL.
Yes bank is trading at Rs. 1056 per share on Friday, up by almost 1.53 per cent or Rs. 16 per share on an intra-day basis. The 52 w high for the stock is Rs. 1085. Over a 1 year period Yes Bank has delivered 28 per cent returns outperforming broader markets. Yes Bank is trading above its 200-DMA indicating bullishness in the scrip.
Broader market on Friday is trading flat with Sensex trading at 26773 levels.
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