Four brokerage houses question YES Bank's future, raise concerns

Brokerages have raised red flags after the private lender was unable to give clarity on its fund raising plans after two board meetings

After YES Bank’s inability to raise funds worth $2 billion, brokerage houses have started questioning the future of the private lender. After a five-hour long meeting on Tuesday, the bank told exchanges that it is considering the $500-million offer made by Citax Holdings and Citax Investment Group. 

A decision regarding allotment will be taken at the next board meeting. It also told the exchanges it is still considering the binding offer of $1.2 billion offer from Canadian businessman Erwin Singh Braich and SPGP Holdings. Together, the two bids accounted for 85 per cent of the $2-billion in offers the board had