Brokerages have raised red flags after the private lender was unable to give clarity on its fund raising plans after two board meetings
The stock opened lower on the BSE and slumped further by 19.48% to Rs 40.70 ion day trade
The bank on Tuesday told stock exchanges that it was considering the $500 million offer made by Citax Holdings and Citax Investment Group
Yes Bank needs an arranged match brokered by the RBI, or it's No Bank
Board of directors will continue to evaluate other potential investors to raise capital up to $2 bn
While investors have made decent returns on most deals, they have lost out heavily on three transactions.
The board decided that the final decision regarding allotment to Citax Holdings and Citax Investment Group will follow in the next board meeting, subject to requisite regulatory approval
YES Bank is likely to reject the offer that made up more than half of its planned $2 billion capital raising, and is talking to institutional investors about making up the shortfall, report.
Erwin Braich, the son of a lumber baron from Punjab, has a history including bankruptcy, lawsuits and soured business deals.
Shares of Coffee Day extended decline to as much as 14.5% in Mumbai, which is the biggest drop since July 31.
At a meeting on Tuesday, the board is expected to reject an offer from Canada's Erwin Singh Braich and Hong Kong-based SPGP Holdings to contribute $1.2 billion toward the fund raising
The scrip settled the day at Rs 56 on the BSE, down 9.82%
Moody's downgraded the Bank's long-term foreign currency issuer rating to B2 from Ba3, as potentially stressed assets and low loss-absorbing buffers may add pressure to its funding and liquidity.
Global rating agency says potentially stressed assets and low loss-absorbing buffers may add pressure to the bank's funding and liquidity, and create additional risks to its standalone credit profile
Such concerns follow reports of lawsuits involving Erwin Singh Braich, a Canadian entrepreneur who alongside SPGP Holdings has committed $1.2 billion to the capital increase
Erwin Braich's troubled history will make it difficult for him to clear the "fit and proper" criteria for investments in banks, say analysts
the bank announced, on Friday evening, that its board had agreed to raise $2 billion from an assortment of investors
Finance Minister Nirmala Sitharaman spoke of the challenges in maintaining fiscal discipline, while comparing the Modi government's fiscal record with that of the Manmohan Singh government
On Friday evening, the bank had announced that its board had agreed to raise $2 billion from an assortment of investors
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.