Yes Bank ac­quires 5pc stake in proxy ad­vi­sory firm IiAS

The Pak Banker - - COM­PA­NIES/BOSS -

MUM­BAI: Pri­vate sec­tor lender Yes Bank on Thurs­day said that it has pur­chased 5% stake in proxy ad­vi­sory firm, In­sti­tu­tional In­vestor Ad­vi­sory Ser­vice (IiAS).

In a no­ti­fi­ca­tion to the ex­changes, the bank said that it has pur­chased 500,750 eq­uity shares in the proxy ad­vi­sory firm from the BSE, which is the equiv­a­lent of 5.006% of the paid-up cap­i­tal of IiAS. IiAS ded­i­cated to pro­vid­ing par­tic­i­pants in the In­dian mar­ket with in­de­pen­dent opin­ion, re­search and data on cor­po­rate gov­er­nance is­sues as well as vot­ing rec­om­men­da­tions on share­holder res­o­lu­tions.

In Jan­uary, Ko­tak Mahin­dra Bank had an­nounced that it had pur­chased 10% stake worth Rs.1 crore in the proxy ad­vi­sory firm from BSE.

In­vestors in IiAS in­clude Axis Bank Ltd, BSE Ltd, Fitch Group Inc., Hous­ing Devel­op­ment Fi­nance Corp. (HDFC), ICICI Pru­den­tial Life In­surance, Ko­tak Mahin­dra Bank Ltd, Tata In­vest­ment Corp. and UTI As­set Man­age­ment Co. Ltd, ac­cord­ing to in­for­ma­tion avail­able on the com­pany's web­site. In ad­di­tion, in­di­vid­u­als in­clud­ing Anil Singhvi, Deven Sharma, R. Jayaku­mar and Amit Tan­don also own eq­uity shares in the com­pany.

Newspapers in English

Newspapers from Pakistan

© PressReader. All rights reserved.