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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.
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