SBI to invest Rs 7,250 cr in crisis-hit YES Bank as part of RBI rescue plan

Under the reconstruction scheme, SBI is to buy up to 49 per cent of YES Bank and cannot reduce its holding below 26 per cent for the next three years

State Bank of India (SBI) 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 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.
 
Under the restructuring scheme, the authorised capital shall stand altered to Rs 5,000 crore.
 
The number of equity shares will stand altered to 24,000 million of Rs 2 each aggregating to Rs 4,800