SPGP Holdings, backed by Canada-based Erwin Braich, offers $1.2 billion to YES Bank
Updated : November 30, 2019 12:33 PM IST
YES Bank’s board will reconvene on December 10 to finalise the recapitalisation plan and hold an extraordinary general meeting for shareholders’ approval.
YES Bank has increased the fundraising target to $2 billion and is looking to have a combination of a large investor like SPGP and Erwin Braich with a clutch of small investors.
Citax Group has offered $500 million and others like GMR Group, Rekha Jhunjhunwala and Aditya Birla Family Office have shown interest in making smaller investments.
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