Yes Bank Offloads 2.56% Stake In Coffee Day Enterprises' Sical Logistics

On Friday, Yes Bank said it has sold 15 lakh equity shares in Sical Logistics, equivalent to 2.56% stake in the Coffee Day Enterprises' group company.

The private bank has sold 15 lakh equity shares having a nominal value of Rs 10 each, constituting 2.56% of the paid-up share capital of Sical Logistics Limited (Sical) in various tranches, Yes Bank said in a regulatory filing.

The last tranche of the sale being on 10 December 2020, resulting in a change in holding of the bank by more than 2% of the total shareholding of Sical, it added. Sical was acquired by Coffee Day group in 2011.

The company is engaged in stevedoring, customs handling, trucking and steamer agency businesses, mining, port logistics, road and rail transport, container freight station, warehousing and shipping.

Shares of Sical Logistics Ltd hit the upper circuit of 10% on Friday at Rs 18.30 per share. On the other hand, shares of Yes Bank Ltd hit 5% lower circuit to close at Rs 19.45.