The board will meet again on Dec. 10 to approve a preferential allotment of shares to investors, none of which will receive more than a 25% stake in the bank.
Analysts at Jefferies, however, have a contrasting view and suggest EM debt to be a better bet than equities as things stand
YES Bank, Bank of Baroda, SBI, IndusInd Bank, and RBL Bank are amongst the banks most prune to "high risk" emanating from Anil Dhirubhai Ambani Group (ADAG), Cox & Kings, CG Power, and DHFL
Christopher Wood, global head of equity strategy at Jefferies cautions that the 'consumer financing boom' in India has peaked
According to the note, part of the impact has already been reflected in earnings of 2016-17