Yes Bank acquires 17.31 per cent stake in Fortis Healthcare

Following the call for about 9 crore pledged shares in the previous month, banking major Yes Bank acquired 17.31 per cent stake in health care company Fortis Healthcare on Wednesday.  
   
Fortis Healthcare  announced in a regulatory filling that  Yes Bank has acquired 8,97,81,906 equity shares having nominal value of Rs10 per share of the company pursuant to invocation of pledge on the said equity shares  post the  default by promoter group companies in the credit facility provided by the bank.  
   
After the acquisition by Yes Bank,  the stake of  the  promoter firm Fortis Healthcare Holdings  and its  promoters   and family entities  got reduced to  5.87   per cent   from 34.43   per cent   earlier  .  
   
Post the development, Fortis hit an intraday high of Rs. 161 per share, up by nearly 5 per cent on BSE on Wednesday. The stock hit an intraday low of Rs. 154.80 per share on BSE during the trade session.  
   
The stock had touched its 52-week high of Rs. 230.90 per share on May 3, 2017 and its 52-week low of Rs. 106.65 per share on February 6, 2018 on BSE, respectively. The stock ended at Rs. 158.75 per share, higher by 4.10 per cent on BSE on Wednesday.