Yes Bank invokes shares in Cox & Kings, Acquires 18.55%
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Yes Bank invokes shares in Cox & Kings, Acquires 18.55%

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Pritish raj
Written by Pritish raj
[email protected] | Noida | Published on: July-27-2019 03:01 PM
  • Cox & Kings Limited has a consolidated turnover revenue of ₹5,693.5 crore as on 31 March.
  • Cox & Kings is a 260-year-old company which was established in 1758 and is one of the oldest travel comapnies.

Yes Bank has acquired 18.55 percent stake in Cox & Kings by the invocation of pledged shares on Friday.

In a regulatory filing, Yes Bank said that they have invoked the pledge on 3.27 crore equity shares having a nominal value of Rs. 5 per share, constituting 18.55 percent of the post-issue paid-up share capital of Cox & Kings

The bank has invoked pledge on 3.27 crore equity shares having a nominal value of ₹5 per share, constituting 18.55 percent of the post-issue paid-up share capital, of Cox & Kings, Yes Bank said in a regulatory filing.

Cox & Kings Limited has a consolidated turnover revenue of ₹5,693.5 crore as on 31 March.

Along with this the bank also invoked pledge on 34,080 equity shares having a nominal value of Rs. 10 per share, which constitutes 30 percent of an unlisted company Ezeego One Travel & Tours Limited.

In another filing, the bank said that they in the ordinary course of its business continues to explore various means of raising capital or funds through the issuance of securities to diverse set of investors in order to meet its business or regulatory requirements.

The statement was with regard to clarification on reports that TPG Capital, Advent International were in talks to infuse $350 million each in Yes Bank.

History of Cox & Kings

Cox & Kings is a 260-year-old company which was established in 1758 and is one of the oldest travel comapnies. It is headquartered in India and the UK and is having subsidiaries in the Netherlands, UAE, Japan, Singapore, Australia, and New Zealand.

The company has operations spread across 22 countries and 4 continents.

The company started as an army agent, travel agent, printer and publisher.

Historically, It has been an army agent, a travel agent, a printer and publisher. It has also worked as a newsagent, cargo agent, ship-owner, banker, insurance agent, and dealer of several travel-related activities. Its core activities now include the sale of packaged holidays.

Recently, Yes Bank has acquired over 9 percent shares of the famous battery maker Eveready by invoking the pledged shares following the failure of repayment of the loan by a group company.

About the author

Pritish raj

Pritish raj

Born and brought up in Bihar.
An engineer by education, the content creator, photographer and writer by profession and traveler and poet by passion.

Give me chaos, I'll create masterpiece :)

9113327413 | A-73, Hackerspace, Noida sector- 2 Noida UP 201301

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