Yes Bank buys 5% stake in proxy advisory firm IiAS

Yes Bank Ltd, India’s fifth-largest private-sector lender, has acquired a little over 5 per cent equity stake in an investor advisory firm IiAS from BSE Ltd.

Financial details of the transaction, however, have not been disclosed.

IiAS is a proxy advisory firm, which provides independent opinion, research and data on corporate governance issues to the participants in the Indian market, it added.

The firm also provides voting recommendations on shareholder resolutions to market participants.

Earlier this year, another private sector lender Kotak Mahindra Bank had announced that it had purchased 10 per cent equity stake worth Rs 1 crore in the proxy advisory firm from BSE.

Other investors in IiAS include Axis Bank Ltd, BSE Ltd, Fitch Group Inc., Housing Development Finance Corp. (HDFC), ICICI Prudential Life Insurance, Kotak Mahindra Bank Ltd, Tata Investment Corp and UTI Asset Management Co Ltd, according to information available on the company’s website. 

Besides, individual investors namely Anil Singhvi, Deven Sharma, R Jayakumar and Amit Tandon also own equity shares in the company.

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