Trade Nivesh Many big funds including England hedge fund Marshall Wes, Discovery Capital, Carlyle and Farallon want to buy a stake in Yes Bank. According to sources related to the case, Yes Bank wants to raise $ 1.3 billion of new capital.
Aditya Birla Mutual Fund and HDFC Mutual Fund are also keen to buy stakes in Yes Bank. On the condition of anonymity, the sources said that this bank is engaged in the exercise to get rid of the problem of subordinated debt and improve on the corporate governance front.
In addition to the interest of these portfolio investors, a family in North America is also ready to buy a $ 1.2 billion stake in Yes Bank. SSG Capital has also expressed a desire to buy a stake in Yes Bank.
In such a situation, Yes Bank CEO Ravneet Gill has the chance to negotiate on better terms and reach the final result. However, in this regard Yes Bank and potential investors have not opened their cards yet.
Last week, Gill said, "After hard work, we've had strong bids from eight top global private equity firms and some domestic firms. If you look at these eight bids, they reach $ 1.5 billion."
Yes Bank is trying to overcome the difficulties led by Gill. The strong growth in submerged debt and management changes shaken investor confidence. This bank gave loans to many disputed and troubled companies, which increased its problem.
The bank has given loans to companies like CG Power and Cox and Kings. Also, the Reserve Bank had refused to give another term to its former CEO Rana Kapoor. After this, Kapoor regularly sold bank shares. Gill was made CEO for three years in January.
This bank is considering giving a stake of $ 20 to $ 40 crore to all these potential investors. Apart from this, a large stake can be given to the family of North America. Yes Bank may also include some investors in the board.
In a chat with ET last week, Gill said that he hopes the bank will complete the capitalization by the end of this year. On Monday, billionaire investor Rakesh Jhunjhunwala bought 1.29 crore shares of this bank at a price of Rs 67.1 per share.
Gill said, "My guess is that by the end of this year, the capital raising will be over. We want to have good partners with us. We want partners who will strengthen the business and who can make the Yes Bank image a Please help install again. "
Yes Bank had a net loss of Rs 600 crore in the September quarter. The bank's bad loans rose to 7.4 per cent, from 5 per cent in the June quarter. In August, Yes Bank raised money by selling shares worth $ 27.5 million to some domestic investors, which improved its capital adequacy ratio.
Aditya Birla Mutual Fund and HDFC Mutual Fund are also keen to buy stakes in Yes Bank. On the condition of anonymity, the sources said that this bank is engaged in the exercise to get rid of the problem of subordinated debt and improve on the corporate governance front.
In addition to the interest of these portfolio investors, a family in North America is also ready to buy a $ 1.2 billion stake in Yes Bank. SSG Capital has also expressed a desire to buy a stake in Yes Bank.
In such a situation, Yes Bank CEO Ravneet Gill has the chance to negotiate on better terms and reach the final result. However, in this regard Yes Bank and potential investors have not opened their cards yet.
Last week, Gill said, "After hard work, we've had strong bids from eight top global private equity firms and some domestic firms. If you look at these eight bids, they reach $ 1.5 billion."
Yes Bank is trying to overcome the difficulties led by Gill. The strong growth in submerged debt and management changes shaken investor confidence. This bank gave loans to many disputed and troubled companies, which increased its problem.
The bank has given loans to companies like CG Power and Cox and Kings. Also, the Reserve Bank had refused to give another term to its former CEO Rana Kapoor. After this, Kapoor regularly sold bank shares. Gill was made CEO for three years in January.
This bank is considering giving a stake of $ 20 to $ 40 crore to all these potential investors. Apart from this, a large stake can be given to the family of North America. Yes Bank may also include some investors in the board.
In a chat with ET last week, Gill said that he hopes the bank will complete the capitalization by the end of this year. On Monday, billionaire investor Rakesh Jhunjhunwala bought 1.29 crore shares of this bank at a price of Rs 67.1 per share.
Gill said, "My guess is that by the end of this year, the capital raising will be over. We want to have good partners with us. We want partners who will strengthen the business and who can make the Yes Bank image a Please help install again. "
Yes Bank had a net loss of Rs 600 crore in the September quarter. The bank's bad loans rose to 7.4 per cent, from 5 per cent in the June quarter. In August, Yes Bank raised money by selling shares worth $ 27.5 million to some domestic investors, which improved its capital adequacy ratio.
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