Yes Bank invokes pledge to acquire 20.6% stake in Tulip Star Hotels

Yes Bank Ltd. informed the exchanges that it has, pursuant to invocation of pledge of shares, acquired 949,930 equity shares having nominal value of Rs. 10/- per share, constituting ~20.61% of the post-issue paid-up share capital as at September 30, 2019, of Tulip Star Hotels Limited.

The shares have been acquired subsequent to default/breach of credit facilities sanctioned by Yes Bank to Ezeego One Travel & Tours Limited.

Tulip Star Hotels Limited ("TSHL") is a holding company owning 50% stake in V Hotels Limited, which in tum, operates a prime hotel property in Juhu, Mumbai.

Yes Bank Ltd ended at Rs65.90 down by Rs2.8 or 4.08% from its previous closing of Rs68.70 on the BSE.

The scrip opened at Rs69.10 and touched a high and low of Rs69.45 and Rs65.50 respectively. A total of 19,47,08,345 (NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs16,806.69cr.

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