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Yes Bank acquires 7.21% of Asian Hotels (North); Stocks tumble

Asian is a 41 years old company that operates in the Hospitality Sector.

November 15, 2021 12:46 IST | India Infoline News Service
Yes Bank
Private lender, Yes Bank has acquired 14,02, 991 equity shares having face value of Rs10 per share by way of invocation of pledge, constituting 7.21 % of the issue paid-up share capital, of a listed company, namely, Asian Hotels (North) Limited.

Yes Bank said that "shares acquired on invocation of pledge subsequent to default/breach of terms of Loans to the Borrower and accordingly proceeds from sale of shares will be utilized to reduce the loan secured by such shares."

Asian is a 41 years old company that operates in the Hospitality Sector.

At around 12.43 pm, Yes Bank was trading at Rs13.08 per piece down 0.7% on Sensex. The stock has touched an intraday high and low of Rs13.23 per piece and Rs13.06 per piece respectively.

Asian Hotels (North) was trading at Rs82.50  per piece plunged 0.96% on Sensex. The stock has touched an intraday high and low of Rs86.50 per piece and Rs81.15 per piece respectively. 

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