Yes Bank Ltd sold 1.66 million equity shares having nominal value of Rs10 each constituting 2.84% of the paid-up share capital of Sical Logistics in various tranches, it said in a filing to exchange.
Sical is the logistics business of late VG Siddhartha's Coffee Day group.
As on 31 March, Yes Bank had 5.22% holdings in Sical Logistics.
Shares of Sical Logistics rose 9.95% to close at ₹12.15 on BSE and Yes Bank fell 0.54% to close at ₹27.60, while the benchmark index, Sensex gained 1.49% to close at 35430.43.
From the beginning of the year, Sical Logistics lost 30.37% and Yes Bank lost 41.21% against a fall of 14.12% in the benchmark index, Sensex. From March lows, Sical Logistics gained around three times and Yes Bank rose 9.31, while Sensex was up 24.03%.
On a consolidated basis, Sical Logistics reported net loss of ₹60.26 crore in Q3 December 2019 compared with net profit of ₹5.16 crore in Q3 December 2018. Net sales fell 54.7% to ₹187.58 crore in Q3 December 2019 over ₹414.15 crore in Q3 December 2018.
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