Yes Bank board says it will consider USD 500 mn offer of Citax Holdings and Citax Investment Group

Yes Bank board today in a statement said that it will consider USD 500 mn offer of Citax Holdings and Citax Investment Group. The board also said that Yes Bank shall continue to evaluate other potential investors to raise capital up to USD 2 billion.

Erwin Singh Braich-SPGP Holdings' USD 1.2 billion binding offer continues to be under discussion, said Yes Bank board after the meeting.

Earlier Yes Bank shares tumbled by 10.4 percent to close at Rs 50.40 per share ahead of a crucial board meeting to decide on investment offers. Reports suggest that the board will reject the offers from SPGP Holdings and controversial Canadian businessman Erwin Singh Braich.

Rakesh Jhunjhunwala may also be out of contention.

 

(With inputs from agencies.)