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YES Bank expands equity offer to $2 billion; board to meet on December 10

Board of directors held marathon meeting which lasted over eight hours

Ravneet Gill
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Ravneet Gill, MD & CEO, Yes Bank

Nidhi Rai Mumbai
Private sector lender YES Bank has increased the size of its equity capital offer to $2 billion from the earlier guidance of $1.2 billion on “strong interest” shown by NRI investors, including a $1.2 billion offer by Erwin Singh Braich and SPGP Holdings, and $500 million by Citax Holdings and Citax Investment Group, according to the bank. 

Other prominent suitors are the Aditya Birla Family Office ($25 million), GMR Group and Associates ($50 million), and Rekha Jhunjhunwala ($25 million). Besides, a top-tier US fund house has evinced Interest to invest $120 million. Its name will be disclosed early next week.
Topics : YES Bank

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First Published: Nov 29 2019 | 11:40 PM IST

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