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Last Updated : Mar 09, 2020 10:51 AM IST | Source: Moneycontrol.com

Yes Bank crisis | SBI in talks with 9 overseas investors: Report

The government placed a 30-day moratorium on Yes Bank on March 5.

 
 
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State Bank of India (SBI) is in talks with foreign investors such as Blackstone, Brookfield, Carlyle Group, TPG, KKR and Goldman Sachs to seek their help in rescuing the troubled Yes Bank, The Economic Times reported.

SBI, which needs to raise around Rs 20,000 crore for Yes Bank, is also in talks with JC Flowers, Tilden Park Capital Management and Cerebrus Capital, the report said. JC Flowers and Tilden Park had submitted non-binding expressions of interest to Yes Bank’s previous management.

The government placed a 30-day moratorium on Yes Bank on March 5. The Reserve Bank of India (RBI) took over the lender’s board and placed a Rs 50,000 withdrawal limit on depositors.

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On March 6, the banking regulator  announced a draft reconstruction for the private sector lender.

Also read: Ravneet Gill, a veteran banker who said ‘Yes’ to the wrong job

Moneycontrol could not independently verify the report.

HDFC is also interested in investing in Yes Bank, the report said.

“SBI as the anchor investor and RBI setting the base price at Rs 10 is making Yes Bank an attractive investment proposition,” an official told the publication.

“A plan is being firmed up and would be presented to RBI soon. There are large domestic investors, which could be interested, besides foreign ones. If things go to plan, this could be a good investment from SBI’s point of view,” the official added.

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First Published on Mar 9, 2020 10:39 am
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