Merger & Acquisition

Yes bank Acquires 18.5% stake in Cox & Kings by Invoking Pledged Shares

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cox and kings pune

Yes Bank on Friday said it has has acquired 18.55 per cent stake in Cox & Kings by invocation of pledged shares.

The bank has invoked pledge on 3.27 crore equity shares having nominal value of Rs 5 per share, constituting 18.55 per cent of the post-issue paid-up share capital, of Cox & Kings, Yes Bank said in a regulatory filing.

Cox & Kings Limited has a consolidated turnover revenue of Rs 5,693.5 crore as on March 31.

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Besides, the bank invoked pledge on 34,080 equity shares having nominal value of Rs 10 per share, constituting 30 per cent of an unlisted company Ezeego One Travel & Tours Limited.

In another filing it said, the bank in ordinary course of its business continues to explore various means of raising capital or funds through issuance of securities to diverse set of investors in order to meet its business or regulatory requirements.

The statement was with regard to clarification on reports that TPG Capital, Advent International were in talks to infuse USD 350 million each in Yes Bank.

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Vardaan
Founding editor at IndianWeb2, he's been writing at IndianWeb2 since 2007. Apart from blogging he had a professional career of software developer, Ux developer and search engine marketer in past. His vision of IndianWeb2 has been laid down so as to showcase, encourage and propagate Indian startups, innovation and entrepreneurship ideas.

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