Their interest is at the preliminary stage and if the deal does takes place, Mittal and Munjal would be acquiring the stake in their private capacity, which could be up to five percent
Through this transaction, the bank said it has reduced its exposure to the Religare Group.
Pharma, Agri inputs, FMCG including, Food & beverages, IT, Paper & packaging are some of the sectors which are expected to do better comparatively
The shares were offloaded at an average price of Rs 130.27, valuing the transaction size at Rs 645.09 crore.
Gogia, who was recently inducted to the board of the troubled private sector lender, also said her family was fine with lowering their shareholding below the present 8.33 per cent in case a big investor comes on board at the end of the ongoing capital-raising exercise.
The bank announced the appointment of Anita Pai as its chief operating officer and Jasneet Bachal as its chief marketing officer of the bank.
The lender has been exploring different options for raising $1.2 billion.
The troubled private sector lender last week said it was looking for capital either from a private equity investor or a strategic investor or family office
The private lender has been exploring different options for raising $1.2 billion.
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
The complaint has come against the backdrop of promoters cutting their stake and shares of the company witnessing heavy beating at stock exchanges during the last few days
In this first episode of the Corporate Buzz podcast, Moneycontrol's Jerome Anthony talks to Corporate Bureau Chief Prince Thomas to find out the top developments in the corporate world.
Ravneet Gill, Chief Executive Officer of the bank assured that the lender is on track to complete fund raising plan and again cleared the concerns raised on asset quality while reiterating its commitment towards growth.
Investors with ability to stomach volatility should gradually start building position
The exercise will result in the new investor/s picking up stakes above the regulatory cap and the RBI will have to take a call on a "non-conventional" investor coming on board.
Gill said Yes Bank has enough liquidity and the share price movement of recent days should not become a proxy for how the bank gets perceived
Trends on SGX Nifty indicate a negative opening for the broader index in India, with a 54 points loss from closing figure of 1st October (11,396).
The family's ownership is over 8.7 percent and very miniscule part of it is pledged, Shagun Gogia told PTI
The private sector lender's share price had plunged by nearly 30 percent during intra-day trade on October 1, before closing the session down by 22.8 percent at Rs 32.
The company in its BSE filing said that the forced sales were triggered by an invocation of pledge on the equity shares of a large stakeholder.
Kapoor, who is also a promoter of Yes Bank, has less than 5 percent stake left in the private lender, and the same has been pledged with RNAM, they added.
Yes Bank's exposure to Indiabulls Housing Finance has gone down about 30 percent over the last few months, said Gill.
In a recent report, IDFC Securities slashed the bank’s target price to Rs 35, citing that it sees piling up of bad loans.
Now the bank will seek necessary shareholders' consent and proceed expeditiously with its capital raise.
The release of shares took place between September 18 to 20, 2019, the filing said.