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Yes Bank acquires over 9% stake in Eveready

Yes Bank has acquired over 9 percent shares of Eveready by invoking pledged shares following loan default by a group company. Eveready and Mcleod – which is engaged in the tea business – belong to the B M Khaitan group.

Earlier on June 30, Eveready had announced an agreement with the Madhu Jayanti International (MJIPL) for its loss making packet tea business to reduce stress on working capital.

Yes Bank is engaged in providing banking services, including corporate and institutional banking, financial markets, investment banking, corporate finance, branch banking, business and transaction banking, and wealth management.

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