YES Bank acquires 18.55% stake in Cox & Kings, now 2nd-largest shareholder

Cox & Kings has been facing a liquidity crisis, resulting in loan defaults and rating downgrades in the past few months

YES Bank has become the second-largest shareholder in tour operator Cox & Kings after it acquired a 18.55 per cent stake from the invocation of pledge. The private-sector lender has also picked up a 30 per cent stake in Cox & Kings sister concern ezeego1 following a loan default.
 
The 260-year-old travel firm is owned by the Kerkar family through domestic and overseas entities. The firm has been facing a liquidity crisis, resulting in loan defaults and rating downgrades in the past few months. This has led to promoters pledging additional stake to raise funds. Lenders have also invoked