Yes Bank Crisis: Axis Bank board of directors approves investment up to Rs 600 cr

Board of Directors of Axis Bank Ltd has approved to invest up to Rs 600 crores for acquiring up to 60 crore equity shares of Rs 2 each of Yes Bank, for cash, at a premium of Rs 8 per equity share, under the proposed scheme of reconstruction of the bank.

Axis Bank: Board of Directors of Axis Bank Ltd has approved to invest up to Rs 600 crores for acquiring up to 60 crore equity shares of Rs 2 each of #YesBank, for cash, at a premium of Rs 8 per equity share, under the proposed scheme of reconstruction of the bank. pic.twitter.com/ek5GFfQqEK

— ANI (@ANI) March 13, 2020

Further details awaited.