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YES Bank Limited (16ER)

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Wednesday 13 June, 2018

YES Bank Limited

Acquisition

RNS Number : 3213R
YES Bank Limited
13 June 2018
 

 

 

June 13, 2018

 

India International Exchange IFSC Limited

101 First Floor, Hiranandani Signature Tower,

GIFT City IFSC - 382355, Gujarat, India

The Singapore Exchange Securities Trading Limited

2, Shenton Way #19-00

SGX Centre 1, Singapore 068804

 

The London Stock Exchange

10, Patemoster Square,

London, EC4M 7LS

 

 

 

 

Dear Sirs,

 

 

Sub:  Disclosure under Indian Listing Regulations

 

YES Bank Limited ("the Bank") would like to inform you on its intention for following acquisitions as given below:

 

A) Intent of acquisition of stake in India International Exchange (IFSC) Limited

 

The Bank is in the process of acquiring 10,49,69,461 equity shares having nominal value of Re. 1/- per share, constituting 9.95% of the post-issue paid-up share capital, of an unlisted company, namely, India International Exchange (IFSC) Limited ("India INX") amounting to aggregate sum of Rs. 10.497 Crore. The mode of acquisition will be from primary market.

 

Furthermore, the Bank would be acquiring equity shares in tranches in India INX for an amount aggregating upto Rs. 31.044 Crore by Financial Year 2021-22, provided however that the aggregate amount invested by the Bank at any time shall not be more than 9.95% of the post issue paid-up share capital of India INX.

 

India INX is a wholly owned subsidiary of BSE Ltd. and is India's first International stock exchange opened in 2017. India INX commenced trading activities on January 16, 2017 and is located in IFSC, GIFT City. It presently offers a diversified portfolio of products and technology services at a cost which is far more competitive to Indian exchanges as well as other global exchanges like those in Hong Kong, Singapore, Dubai, London and New York.

 

  

B) Intent of acquisition of stake in India International Clearing Corporation (IFSC) Limited within prudential limit of 10% of the entity's capital

 

The Bank is in the process of acquiring 8,83,95,336 equity shares having nominal value of Re. 1/- per share, constituting 9.95% of the post-issue paid-up share capital of an unlisted company, namely, India International Clearing Corporation (IFSC) Ltd. ("India ICC") amounting to aggregate sum of Rs. 8.84 Crore. The mode of acquisition will be from primary market.

 

Furthermore, the Bank would be acquiring equity shares in tranches in India ICC for an amount aggregating upto Rs. 33.631 Crore by Financial Year 2021-22, provided however that the aggregate amount invested by the Bank at any time shall not be more than 9.95% of the post issue paid-up share capital of India ICC.

 

India ICC is a wholly owned subsidiary of BSE Ltd. and commenced its operations from January 16, 2017. It presently provides clearing & settlement, risk management and collateral management services to India International Exchange Ltd. (IndiaINX), a wholly owned subsidiary of the BSE operating at the IFSC, Gift City, Gandhinagar. India ICC clears and settles widest range of global benchmark products across all major asset classes, including securities, equity derivatives, precious metals, base metals, energy, agricultural commodities, interest rates, currencies etc.

 

Kindly take note of the above.

 

The announcements made by the Bank can also be accessed at its website www.yesbank.in.

 

Thanking you,

 

Yours faithfully,

For YES BANK LIMITED

 

 

 

Shivanand R. Shettigar

Company Secretary

 

 


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