InvestorQ : Is it true that Yes Bank has acquired a major stake in Cox & Kings and what does it mean for the future of Cox & Kings?
Riya Dwivedi made post

Is it true that Yes Bank has acquired a major stake in Cox & Kings and what does it mean for the future of Cox & Kings?

Answer
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rhea Babu answered.
1 year ago


You are right that Yes Bank has bought a stake in Cox & Kings but that is not an investment but they have taken over shares pledged to them by Cox for loan against shares. Cox & King has been defaulting regularly on their borrowings and hence lenders have the choice of converting their pledged shares into ownership. The stock is down 95% over the last one year and hence you must not read too much into this. Cox has been defaulting consistently on all its borrowings and there is virtually nothing left in terms of net assets.