Left Menu
Development News Edition

Yes Bank shall continue to evaluate other potential investors to raise capital up to USD 2 bn: board.

PTI | New Delhi | Updated: 10-12-2019 18:54 IST | Created: 10-12-2019 17:04 IST
Yes Bank shall continue to evaluate other potential investors to raise capital up to USD 2 bn: board.

Yes Bank on Tuesday said that it will continue to evaluate other potential investors to raise capital up to USD 2 billion.

The USD 1.2 billion binding offer of Erwin Singh Braich/SPGP Holdings continues to be under consideration of the board, the bank said in a filing to stock exchanges. The bank is also willing to favorably consider the offer of USD 500 million investment of Citax Holdings and Citax Investment Group.

The board of Yes Bank met on Tuesday to consider the proposals. The board decided that the final decision regarding allotment to Citax Holdings and Citax Investment Group will follow in the next board meeting, subject to requisite regulatory approval, the filing said. "The binding offer of USD 1.2 billion submitted by Erwin Singh Braich/SPGP Holdings continues to be under discussion," it said.

In late November, the lender had given the list of potential investors, including the two named above, who were willing to put money in the bank. Constraints on capital had forced the private sector bank to shrink its book in the September quarter. The bank has been going through a tumult for the last one year since the RBI forced the exit of its promoter and CEO Rana Kapoor in August 2018.

His successor Ravneet Gill was forced to make the capital raise top priority because of doubtful bets taken by the bank under Kapoor.



Uganda COVID-19 response: Was off to a good start but reopening dwindled prospects

Uganda has shown success in using health information to enhance efficiency of disease surveillance, reporting and monitoring. The success, however, has critical challenges confronting it as the country resumes normal activities....

New farm bills in India: Focusing on farms or farmers?

... ...

Kenya’s COVID-19 response: Chaos amid lack of information

Confusing numbers and scanty information on how effective curfews and lockdowns have been in breaking transmission have amplified coordination and planning challenges in Kenyas response to COVID-19. Without accurate data, it is impossible t...

Farkhad Akhmedov: Calculating the price of impunity from the law

In insistences such as the battle over the Luna, Akhmedov has resorted to extreme legal machinations to subvert the High Courts decision and keep his assets from being seized. ...


Latest News

Turkey's death toll from earthquake rises to 12 -disaster management authority

The death toll in Turkey due to the earthquake that struck on Friday rose to 12, the countrys Disaster and Emergency Management Presidency AFAD said.The number of people injured rose to 419, it said, adding that search and rescue operations...

Amazon says its Diwali sales off to a good start

E-commerce giant Amazon has said its Prime Day sale in August in India witnessed a strong growth and Diwali sales are also off to a good start. The US-based e-retailer saw its net sales increasing 37 per cent to USD 96.1 billion in the thir...

Ritu Phogat wins third straight MMA title

Indian wrestler-turned-Mixed Martial Arts fighter Ritu Phogat won her third consecutive MMA championship title in Singapore on Friday. The 26-year-old Indian notched up a technical knockout win over Cambodias Nou Srey Pov in the second roun...

U'khand CM asks Harish Rawat to reveal mystery of 'friendship with blackmailer'

Uttarakhand Chief Minister Trivendra Singh Rawat on Friday reiterated the state governments commitment to fight corruption and asked AICC general secretary Harish Rawat to reveal the mystery behind his sudden friendship with someone whom he...

Give Feedback