Yes Bank transfers pledged shares to Asset Reconstruction firm JC Flowers

Yes Bank transfers pledged shares to Asset Reconstruction firm JC Flowers

J.C. Flowers is an asset reconstruction company and post the transfer Yes Bank will not hold any share of the company.

FPJ Web DeskUpdated: Thursday, December 22, 2022, 07:28 PM IST
article-image
Yes Bank transfers 7.21% shares of Asian Hotels to J.C. Flowers Asset Reconstruction Private Limited | File Photo

Yes Bank Limited on Thursday announced the transfer of 14,02,991 shares, representing 7.21 per cent of the total share of Asian Hotels (North) Limited, to JC Flowers Asset Reconstruction Private Limited through an exchange filing.

It has also transferred , 45,46,214 shares, worth 14.11% of the total share capital of Dion Global Solutions Limited, to JC Flowers, along with 44,53,48,990 shares of Dish TV representing 24.19% of its share capital.

In addition to that 12,73,21,500 pledged shares of Rosa Power Supply, 949,930 shares of Tulip Star Hotels, and 40,00,00,000 shares representing 20% of Vadraj Cement's share capital, were also transferred to the ARC JC Flowers.

JC Flowers is an asset reconstruction company, and post-transfer Yes Bank will not hold any shares of the company.

On Thursday, the shares of Yes Bank closed at Rs 19, down by 4.28 per cent.

(To receive our E-paper on WhatsApp daily, please click here.  To receive it on Telegram, please click here. We permit sharing of the paper's PDF on WhatsApp and other social media platforms.)

RECENT STORIES

Credit Suisse still enabling tax evasion by US ultra-rich, says senate committee

Credit Suisse still enabling tax evasion by US ultra-rich, says senate committee

Anand Mahindra reposts images of Bolero turned into railway vehicle for bridge inspection

Anand Mahindra reposts images of Bolero turned into railway vehicle for bridge inspection

SEBI refuses to comment on Adani; allows private funds to sponsor MFs

SEBI refuses to comment on Adani; allows private funds to sponsor MFs

Alibaba to explore fresh IPOs after splitting into 6 firms based on sectors

Alibaba to explore fresh IPOs after splitting into 6 firms based on sectors

Bajaj Consumer Care buys back over 3 lakh shares for Rs 154.19

Bajaj Consumer Care buys back over 3 lakh shares for Rs 154.19