NIFTY 50

Yes Bank in talks with private equity firms to raise Rs 9,000 crore

Updated : August 23, 2019 08:35 AM IST

Private lender Yes Bank is in talks with some private equity (PE) companies to raise about Rs 9,000 crore ($1.2 billion), sources told CNBC-TV18 on Friday.

According to the sources, the management of the company is seeking permission from the board for the fundraise. The board is likely to meet soon to take a decision on the same, they added.

While the management had already received approval from the board to raise $300 million, the sources said it was not adequate for its growth. Yes Bank is yet to respond to CNBC-TV18's query.

Despite a dismal first-quarter performance by the company, last month, CEO Ravneet Gill had said that the concerns about the private sector lender's asset quality have been over-done and that the lender plans to raise capital to refocus on growth.

Gill, in his interview to CNBC-TV18, said the capital raised would be "for growth purposes only, and not to heal the balance sheet" of Yes Bank.
primo org
Have you signed up for Primo, our daily newsletter?
It has all the stories and data on the market, business, economy and tech that you need to know.
cnbc two logos
To keep watching CNBC-TV18, India's No. 1 English Business News Channel, call your Cable or DTH Operator and subscribe now for just Rs. 4 per month. You can also subscribe to CNBC-TV18 Prime HD for Re 1/- per month.Find out more
Live TV