YES Bank has now entered into a share subscription and purchase agreement with JCF ARC LLC and J.C. Flowers Asset Reconstruction Private Limited ("JC Flowers ARC") and a shareholders' agreement with JCF ARC LLC, JC Flowers ARC and Emso Asset Management Limited on November 28, 2022 in relation to its acquisition of up to 19.9% of the equity share capital of the JC Flowers ARC by the Bank, with initial acquisition of 9.9% shareholding and subsequent acquisition of additional shareholding of 10.00%, subject to requisite regulatory approvals ("Transaction").
The Bank intends to participate as a minority shareholder in JC Flowers ARC, in partnership with JC Flowers (a global reputed fund), to participate in the business of asset reconstruction. This is ancillary to the main line of business of the Bank.
The Bank has initially acquired 9.9% shareholding of JC Flowers ARC at INR 11.43 per share. Acquisition of additional shareholding of 10.00% will be as per the terms agreed in the definitive agreements.
Shares of Yes Bank Limited was last trading in BSE at Rs. 17.20 as compared to the previous close of Rs. 16.95. The total number of shares traded during the day was 20207022 in over 15535 trades.
The stock hit an intraday high of Rs. 17.55 and intraday low of 16.90. The net turnover during the day was Rs. 349680458.00.