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YES Bank plans to invest Rs 350 cr in JC Flowers, raise $1 bn in FY23

JC Flowers has been named as the base bidder for bad loans worth Rs 48,000 crore of YES Bank

YES Bank
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According to regulatory norms, the entity which makes the highest bid in the second round of auction is given the asset.

Bhaskar Dutta Mumbai
Private sector lender YES Bank plans to invest up to Rs 350 crore for a 20 per cent stake in asset reconstruction company (ARC) JC Flowers, the bank’s managing director (MD) and chief executive officer (CEO) Prashant Kumar said on Monday.

JC Flowers has been named as the base bidder for bad loans worth Rs 48,000 crore of YES Bank. The private lender plans to invest the funds after the completion of an ongoing Swiss Challenge bidding process.

“Out of 48,000 crore, our provision is 81 per cent...the base bid is Rs 11,100 crore,” Kumar said in an interaction with

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First Published: Jul 18 2022 | 7:40 PM IST

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