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HDFC board clears Rs 1,000 cr equity infusion in Yes Bank at Rs 10/share

HDFC will acquire 100 crore equity shares of Yes Bank at Rs 10 per share including a premium of Rs 8 per share.

March 13, 2020 / 06:19 PM IST
5| HDFC Limited: Rs 4.12 trillion

5| HDFC Limited: Rs 4.12 trillion

 
 
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HDFC board on March 13 approved an investment of Rs 1,000 crore in Yes Bank via equity.

HDFC will acquire 100 crore equity shares of Yes Bank at Rs 10 per share including a premium of Rs 8 per share.

After the latest investment, the stake in Yes Bank will likely be in excess of 5 percent of newly issued and paid-up capital, HDFC said in a release to the stock exchange.

Earlier, ICICI Bank and Axis Bank also announced investments of Rs 1,000 crore and Rs 600 crore, respectively in the crisis-ridden Yes Bank.

The Union Cabinet has approved the restructuring scheme of Yes Bank.

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Also Read | ICICI Bank to invest Rs 1,000cr in Yes Bank via equity

Announcing the Cabinet approval to the scheme, Finance Minister Nirmala Sitharaman said the decision keeps at its core the aim to safeguard depositors' interest and ensure a stable financial banking system.

Also Read | Axis Bank to invest Rs 600 crore in Yes Bank

She said the authorised capital of Yes Bank is being raised to Rs 6,200 crore from Rs 1,100 crore in order to accommodate immediate and subsequent capital raising requirement.
first published: Mar 13, 2020 06:14 pm

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