Private sector lender Yes Bank on Thursday informed the stock exchanges that it had received a binding offer from a global investor for an equity investment worth $1.2 billion in the bank — a development which bolstered its stock price by 24% to ₹70.45.
Fresh equity issue
“The bank would like to inform that it has now received a binding offer from a global investor for an investment of $1.2 billion in the bank through fresh issuance of equity shares, subject to regulatory approvals/conditions as well as bank’s board and shareholders approvals,” the bank said in a filing with the exchanges.
If the deal sails through, it will address the lender’s near-term equity capital requirement, needed to fund growth.
