On November 28, 2022, Yes Bank JC. acquired 9.9% of the equity share capital of Flowers Asset Reconstruction Private Limited (JC Flowers ARC).
Banking & Finance
Yes Bank JC acquired 9.9% of the equity share capital of Flowers Asset Reconstruction Private Limited (JC Flowers ARC). The bank's stake in JC Flowers ARC was reduced from 9.9% to 5.01% based on certain corporate actions. However, as per the share subscription and purchase agreement, the bank has recently acquired additional shares in JC Flowers ARC to restore the bank's stake at 9.9%. On Saturday, the Bank acquired 24,643,558 equity shares of JC Flowers ARC at face value of Rs 29.68 per equity share, at a premium of Rs 19.68 per equity share, aggregating to Rs 731,420,804/-.
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