Live news , top stories, corporate news, company news, sector news, economy news, results analysis news, ceo interviews, fund manager interview, advisor interview, market news, bazaar talk, hot stocks news, ipo news, commodities news, mutual fund news, insurance news, news wire
15 August, 2018 17:07 IST
Yes Bank to acquire 9.95% stake in India INX
Source: IRIS | 13 Jun, 2018, 10.07AM
Comments  |  Post Comment

Yes Bank is in the process of acquiring 10,49,69,461 equity shares having nominal value of Re 1 a share, constituting 9.95% of the post-issue paid-up share capital, of an unlisted company, namely, India International Exchange (IFSC) (India INX) amounting to aggregate sum of Rs. 10.497 crore. The mode of acquisition will be from primary market.

Furthermore, the Bank would be acquiring equity shares in tranches in India INX for an amount aggregating upto Rs 31.044 crore by Financial Year 2021-22, provided however that the aggregate amount invested by the Bank at any time shall not be more than 9.95% of the post issue paid-up share capital of India INX.

India INX is the wholly owned subsidiary of BSE and is India's first International Stock exchange opened in 2017. India INX commenced trading activities on January 16, 2017 and is located in IFSC, GIFT City. It presently offers a diversified portfolio of products and technology services at a cost which is far more competitive to Indian exchanges as well as other global exchanges like those in Hong Kong, Singapore, Dubai, London and New York.

Shares of the bank gained Rs 0.55, or 0.17%, to trade at Rs 332.95. The total volume of shares traded was 122,479 at the BSE (9.59 a.m., Wednesday).





Yes Bank Limited   (Q,N,C,F)*

Comments Post comment 
 Post Comment
Name Email
Comment
Security Code type    into this box
Related Articles
TCS named leader in KYC-AML BPO services by Everest Group - 14-Aug-2018 12:04
MCX to commence trading in rubber futures on August 16 - 14-Aug-2018 11:53
Cadila Healthcare acquires 51% stake in Windlas Healthcare - 13-Aug-2018 15:52
RCom re-instates bank guarantees of Rs 7.74 bn with DOT - 13-Aug-2018 12:08
Larsen & Tubro wins construction order worth Rs 30.28 bn - 13-Aug-2018 11:51
Tata Motors Group global wholesales at 92,639 in July'18 - 13-Aug-2018 10:32
Edelweiss Group to acquire two funds from Milestone Capital - 13-Aug-2018 10:01
Home  |   Shares  |   F&O  |   Mutual Funds  |   Loans  |   Insurance  |   News Centre
Wealth Tracker  |   Newsletters  |   Tax Corner  |   NRI Centre  |   Advertise
© All rights reserved. IRIS Business Services Limited
A Disclaimer