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Last Updated : Oct 07, 2019 02:13 PM IST | Source: Moneycontrol.com

Yes Bank in talks with Microsoft, two tech cos & 3 PE players for a stake sale: Report

The bank is also said to be in talks with three private equity (PE) players -- TPG, The Carlyle Group and Farallon Capital -- for a stake sale

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Yes Bank is in discussion with three technology companies, including software major Microsoft, for a strategic investment, reports Mint. “The top management of Yes Bank held discussions with Microsoft as part of the bank’s ongoing strategy to sell a minority stake to a global tech company,” a source told the paper.

The private lender could sell as much as 15 percent through a fresh equity issuance. Such a stake sale could help Yes Bank gain Rs 2,000 crore, the report added.

In related news, the bank is said to be in talks with three private equity (PE) players -- TPG, The Carlyle Group and Farallon Capital -- for a stake sale, reports The Economic Times.

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Moneycontrol could not independently verify the stories.

The lender has been exploring different options for capital raising as much as $1.2 billion.

In a recent conference call, Chief Executive Ravneet Gill said Yes Bank’s operating metrics and performance are 'absolutely sound' and the lender has enough liquidity.

Any stake sale of above five percent would require approval of the Reserve Bank of India (RBI).

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First Published on Oct 7, 2019 10:50 am

tags #Yes Bank

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