After KKR, L&T Finance, now Yes Bank sells CG Power shares: On Tuesday, Yes bank ltd has deposits about ₹ 5.18 crores as an equity stake in the Crompton Greaves (CG) power. And about ₹ 76 crores has been invested in its CGs’ secondary company named Crompton Greaves (CG) Industrial solutions.
Yes bank is a private bank that has also sponsored some the BCCI matches. According to the National Stock Exchange (NSE), the value of per share of Yes bank limited is ₹15.88. This high amount of transactions are made Yes bank through Open Market transactions. Private firms like L&T Finance and KKR have sold their equity shares to Yes bank in the past 2 days.
According to the Bulk Deal Data, Yes bank has sold its equity shares of worth ₹ 2.38 crores which has a value of ₹ 14.66 per share on the Bombay Stock Exchange (BSE). The private company has sold it’s of having worth ₹ 2.8 crores at ₹ 14.6 per share on the National Stock Exchange (NSE). The total value of this transaction is ₹ 75.81 crores.
According to the shareholding pattern of June 2020, Yes bank has held its equity stakes in the CG at 12.77%. On the other hand, About 46.6 million shares of CG Power having worth of ₹ 63 crores has been sold by Larsen and Toubro (L&T) Finance, KKR India Financial Services, KKR India Debt Opportunities Fund II.
There has been an increment recorded in the shares of CG Power & Industrial 4.94 % which is about ₹ 14.66 per share on the Bombay Stock Exchange (BSE). And Company Sensex has increased to 38528.32 points which are about 1.26%.
This dealings of shares with companies indicate that soon Crompton Greaves (CG) will recover from its debts- lending problems. Also, Murugappa Group-led Tube Investments of India Ltd now agree to invest about ₹ 700 crores for the stake of 56% in the Crompton Greaves (CG).
Now the CG Power is under the Swiss challenge method. The lender will ask CG for the better bids at the company stakes.