Yes Bank shares climb over 3% after eight investors evince interest to pump $2 bn into private sector lender

Shares of Yes Bank on Monday climbed over 3 percent after the company said eight investors have evinced interest to pump $2 billion into the capital-starved private sector lender

Press Trust of India December 02, 2019 12:50:46 IST
Yes Bank shares climb over 3% after eight investors evince interest to pump $2 bn into private sector lender
  • Shares of Yes Bank on Monday climbed over 3 percent after the company said eight investors have evinced interest to pump $2 billion into the capital-starved private sector lender

  • Ending weeks of suspense, Yes Bank on Friday said eight investors led by Erwin Singh Braich have evinced interest to pump $2 billion into the lender

  • The investors who have shown interest also include Aditya Birla Family Office and Rekha Jhunjhunwala, wife of market investor Rakesh Jhunjhunwala, who have committed $25 million each, the bank said

New Delhi: Shares of Yes Bank on Monday climbed over 3 percent after the company said eight investors have evinced interest to pump $2 billion into the capital-starved private sector lender.

The scrip jumped 3.22 percent to Rs 70.50 on the BSE.

At the NSE, it gained 1.46 percent to Rs 69.30.

Yes Bank shares climb over 3 after eight investors evince interest to pump 2 bn into private sector lender

Representational image. Reuters.

However, later it gave up all its early gains and was quoting 2.34 percent lower at Rs 66.70 at 1140 hrs on the BSE.

Ending weeks of suspense, Yes Bank on Friday said eight investors led by Erwin Singh Braich have evinced interest to pump $2 billion into the lender.

The board of directors of the bank will reconvene on 10 December to finalise and approve details of capital infusion, which will take place through a preferential allotment, it informed the exchanges.

The investors who have shown interest also include Aditya Birla Family Office and Rekha Jhunjhunwala, wife of market investor Rakesh Jhunjhunwala, who have committed $25 million each, the bank said.

The largest investor is Braich/SPGP Holding which has committed $1.2 billion, followed by Citax Holding which has committed $500 million, the bank said, adding that discussions with Braich/SPGP are going on and expected to be concluded shortly.

Updated Date:

also read

UP to host Global Investors Summit 2023 in Feb, more than 21 countries confirm participation
Business

UP to host Global Investors Summit 2023 in Feb, more than 21 countries confirm participation

To make it easier for investors to participate in the summit, the UP CM launched the ‘Online Incentive Management Portal’ and ‘Customer Relationship Management Portal (Nivesh Sarathi)’ portal and also unveiled the logo of GIS 23 on Tuesday

Dunzo to raise $150-200 million from sovereign wealth funds based in Middle East: Report
Business

Dunzo to raise $150-200 million from sovereign wealth funds based in Middle East: Report

In FY22, Dunzo saw a negative operating cash flow of Rs 603 crore, from Rs 209 crore in FY21