Yes Bank, which is looking to raise funds, said it has received non-binding expressions of interest from investors including JC Flowers, Tilden Park Capital, OHA UK and Silver Point Capital.
The stock was currently trading 4.12% higher at Rs 36.65. It traded in the range of Rs 36 and Rs 37.20 so far during the day.
The bank and its financial advisors are currently in discussions with these investors on the commercial terms, including pricing, of their investments which, it may be noted, will be subject to certain conditions and receipt of requisite approvals, including regulatory approvals with respect to the size of the stake to be acquired, as well as necessary dispensations with regard to applicable pricing guidelines.
The bank and its management is deeply engaged with the exercise outlined above and which includes extensive work with its investment bankers, legal and accounting advisors, the investors and the independent vendor/legal due diligence commissioned for investors.
In the same exchange filing made after market hours yesterday, the private lender said that it decided to delay its December quarter earnings to on or before March 14, 2020.
Yes Bank is a new generation private bank.
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