Advertisement

After KKR, L&T Finance, now Yes Bank sells CG Power shares worth Rs76 crore

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.

Advertising
Advertising

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.

Advertisement

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.

Advertisement

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.

Also, read Bajaj Auto sales drop by third and Exports also went down