Is YES Bank getting quality offers? Delay raises some serious questions

Yes Bank Ltd.’s decision to defer an announcement on new shareholders has heightened concerns about the quality of the offers it has received to bolster its capital ratios.

The Mumbai-based lender said its board failed to reach a final decision on potential investors at a meeting on Tuesday, though it favored a $500 million offer from Citax Holdings Ltd. Yes Bank is still reviewing another $1.5 billion of bids from parties including Canadian businessman Erwin Singh Braich, the bank said in a filing to exchanges on Tuesday.

“The delay is indicating that either there are regulatory issues or maybe the