Yes Bank acquires 30% stake in Reliance Power arm
NEW DELHI : , Jan 14 (PTI) Yes Bank on Tuesday said it has acquired around 30% stake in a wholly-owned subsidiary of Reliance Power pursuant to invocation of pledged shares.
The bank has acquired 12,73,21,500 equity shares having nominal value of ₹10 each per share constituting around 29.97% of the post-issue paid-up share capital of Rosa Power Supply Company Ltd (RPSCL), a wholly-owned subsidiary of Reliance Power Ltd, Yes Bank said in a regulatory filing.
“Shares have been acquired pursuant to invocation of pledge of shares to RPSCL subsequent to default/breach of terms of credit facilities sanctioned by YES Bank to Reliance Power Ltd,” it added.
