LIC to buy 1.35 billion shares of YES Bank at Rs 10 apiece: TV reports

State Bank of India (SBI) had on Thursday said it would infuse Rs 7,250 crore into ailing YES Bank to pick up to 49 per cent equity

As part of the YES Bank restructuring plan, Life Insurance Corporation of India (LIC) would buy around 1.35 billion shares at a price of Rs 10 apiece, according to a report by business channel CNBC-TV18. 

On Thursday, State Bank of India (SBI) had said it would infuse Rs 7,250 crore into ailing YES Bank to pick up to 49 per cent equity as part of the Reserve Bank of India-mandated bailout plan.

SBI will pick 7,250 million shares at Rs 10 each, and its shareholding will remain within 49 per cent of the paid-up capital of the private sector lender.