Yes Bank CEO seeks help from 'mentor' Anshu Jain to raise $2 billion: Report

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26 Aug, 2025 12:21

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Yes Bank CEO Ravneet Gill has reportedly approached Cantor Fitzgerald, IDFC Securities and Ambit to raise $2 billion to bolster its capital buffers.

The President of Cantor Fitzgerald, Anshu Jain, was the co-Chief Executive Officer of Deutsche Bank until 2015 when Ravneet Gill worked as the bank's India operations head before he moved to Yes Bank last year.

According to a Bloomberg report, Gill had told a business daily that Jain was one of the mentors in his career.

Shares of the bank have been volatile over worries on whether it can get the necessary funds to secure its capital adequacy.

The board of directors of Yes Bank had in January, approved raising of funds up to Rs 10,000 crore, in one or more tranches, by way of issuance of securities on private placement basis.

Also Read: Yes Bank ex-director writes to RBI, seeks removal of Ravneet Gill

The bank has been trying to raise funds but has not yet decided on an investor, and has held discussions with many potential investors.

It recently decided not to proceed with the offer from Erwin Singh Braich/SPGP Holdings for a proposed investment in the bank, but the board is willing to favourably consider the offer of $500 million of Citax Holdings and Citax Investment Group in next board meeting.

It has been selling stakes in companies it lent money to, including Sical Logistics, and Rosa Power Supply Company, the subsidiary of Reliance Power.

Yes Bank acquired more than 10 percent stake in Sical Logistics and nearly 30 percent in Reliance Power subsidiary by the invocation of pledged shares after their default on payments.