Yes Bank acquires 24.19% stake in Dish TV via pledged shares
June 2, 2020

On May 30, 2020, Private sector lender Yes Bank Limited has acquired a 24.19% stake in Dish TV India Ltd, a company providing Direct to Home (DTH) television service in India, following invocation of 44.53 crore pledged shares due to default in payment of debt by Dish TV and some other companies.

On 15 January, Yes Bank, by virtue of invocation of pledged shares, had acquired six million equity shares, constituting about 10.25%, of Sical Logistics Ltd, a promoter group entity of Coffee Day Enterprises Ltd, founded by late VG Siddhartha.

Sical Logistics provides dredging and retail supply chain. Sical Connect Ltd had defaulted in repayment of a loan it took from Yes Bank by pledging shares of Sical Logistics.

Similarly, on 14 January, the lender had acquired 127.32 million shares, or 29.97% stake, of Rosa Power Supply Company Ltd, a wholly owned subsidiary of Reliance Power Ltd.

Source : Live Mint