Industry

Yes Bank says eight investors ready with $2 billion funding

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The board of directors of the bank will reconvene on December 10 to finalise and approve details of capital infusion

Ending weeks of suspense, Yes Bank on Friday said that eight investors led by Erwin Singh Braich have evinced interest to pump $2 billion into the capital-starved private sector lender.

The board of directors of the bank will reconvene on December 10 to finalise and approve details of capital infusion, which will take place through preferential allotment, it informed the exchanges.

The investors who have shown interest also include Aditya Birla Family Office and Rekha Jhunjhunwala, wife of stock market investor Rakesh Jhunjhunwala, who have committed $25 million each, the bank said.

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Printable version | Dec 10, 2019 4:47:52 AM | https://www.thehindu.com/business/Industry/yes-bank-says-eight-investors-ready-with-2-billion-funding/article30119029.ece

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