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Various investors have shown interest worth over $3 billion, says Yes Bank CEO Ravneet Gill

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Yes Bank has received bids worth $.15 billion from eight investors, CEO Ravneet Gill told CNBC-TV18 in an exclusive interview. 

Yes Bank has received bids worth over $3 billion from various investors, CEO Ravneet Gill told CNBC-TV18 in an exclusive interview.
Gill further said, apart from the binding bid worth $1.2 billion, various investors and family offices are interest in the bank. He said, “We put these bids into three buckets. There was  $1.2 billion which was a binding bid, the second, we have eight investors, six of which are private equity, two are domestic mutual funds with bids of about $1.5 billion and then we have a mix of two of India’s most highly respected individual financial investors and two family offices who put another $350 million.”
“The sum total of all of this is a little over $3 billion,” he added.
Share price of Yes Bank jumped soon after the comments and were trading at Rs 67.85 per share, up nearly two percent, on the BSE at 10.08 hours.
Last week, Yes Bank said it has received a binding bid worth $1.2 billion from a global investor. Sources told CNBC-TV18 this bid is from SP Global Holdings but the two companies did not comment.
Gill told CNBC-TV18, the bank may look at raising more than $1.2 billion.
Without divulging details about the $1.2 billion binding bid that Yes Bank received, Gill said it is backed by a "large US financial institution." He said, "The bank should be able to announce details of binding bid in a few days."
On September 25, 2019, Yes Bank announced its capital raising plans and said it has received "strong interest" from multiple foreign as well as domestic private equity and strategic investors for the capital raise.
The bank had said, "It remains firmly on course to raising growth capital subject to necessary approvals."
On November 1, Yes Bank said its net loss for the second quarter ended September 30, 2019 stood at Rs 600.1 crore due to one-time deferred tax asset (DTA) adjustment of Rs 709 crore on account of change in corporate tax rate regime.
Talking about slippages, Gill said, “If you look at slippages like Cox & Kings or CG Power or CCD, these were not ordinary corporate events where the company’s performance went down or the company’s credit profile changed. They were not victims of economic slowdown. I would say they were victims of very unfortunate circumstances. These unfortunate incidents were very difficult to anticipate."

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Bharti Airtel567.90 27.35 5.06
Tata Steel1,365.00 34.35 2.58
SBI Life Insura1,133.40 28.25 2.56
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IndusInd Bank992.75 16.95 1.74
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Bharti Airtel567.90 27.45 5.08
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