Yes Bank buys over 5% stake in investor advisory firm Institutional Investor Advisory Services

NEW DELHI: Private sector lender Yes Bank today said it has bought over 5 per cent stake in an investor advisory firm, IiAS, from BSE.

Yes Bank said in a regulatory filing that it has acquired 5,00,750 equity shares of Institutional Investor Advisory Services (IiAS) from BSE Limited which is equivalent to 5.006 per cent of the paid-up capital of the company.

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.

Besides, IiAS also provides voting recommendations on shareholder resolutions to the market participants.

The valuation of the deal was not shared.

Yes Bank shares traded at Rs 756 a piece on BSE, up 0.23 per cent from previous close.