Left Menu
Development News Edition

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


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.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)

Download The Devdiscourse News App for Latest News.


TRENDING

OPINION/BLOG/INTERVIEW

Beware! Maximum cyber criminals eye your personal data

A report of the World Economic Forum revealed that cyber security is increasingly becoming an issue of public security as the majority of cyber criminals are increasingly targetting individual internet users. This requires preventive measur...

WEF 2020: Trump seems politically correct in pulling out from Paris Agreement

If the survey of the World Economic Forum WEF is believed, Trump seems to enjoy the confidence of his people in flaying climate intuitions and climate activists. His preference for economic development over environmental protection not only...

From home to healthcare, here are Robotic innovations transforming lives

Lovot is equipped with more than 50 sensors such as thermography, microphone array, obstacle detection, and touch sensor to generate motion and emotions in real-time....

Translating words to deeds: Achieving gender parity in access to financial resources

... ...

Videos

Latest News

Two held for attack on Thuglak magazine editor Gurumurthy in Chennai

Two people from a Tamil extremist group have been arrested for allegedly attempting to attack S Gurumurthy, editor of Thuglak magazine at his residence here. Informed police had arrested two from a Tamil Extremist group. I must thank and co...

Billie Ellish emerges as the top winner at 2020 Grammys

Singer Billie Ellish had a history-making night at the 2020 Grammy awards as she swept the four biggest prizes -- best new artiste, record of the year, album of the year and song of the year. Eilish, 18, became the youngest solo performer t...

Harden, Westbrook might miss Rockets vs. Jazz

The Houston Rockets might be without stars James Harden and Russell Westbrook when they visit the Utah Jazz on Monday night. Harden, who leads the NBA in scoring with 36.1 points per game, did not play in Houstons 117-110 loss at the Denver...

UPDATE 6-Billie Eilish sweeps Grammy Awards with top 4 prizes

Teen sensation Billie Eilish swept the Grammy Awards on Sunday, winning all four top prizes - album, song, record of the year and best new artist - in a rare feat at the music industrys highest honors. Eilish, an 18-year-old newcomer with a...

Give Feedback