While the Indian budget carrier has not so far defaulted on any loans, the lenders are concerned about its cash flows and have held discussions to seek assurances from the airline as it is behind on payments to some aircraft lessors, the sources said.
SpiceJet has denied the report, claiming that no lender has put its account on red alert.
As bond yields soften, SBI will recover most of the mark-to-market losses made in Q1, Dinesh Kumar Khara said
In this episode of The Week on Dalal Street, Santosh Nair and Anuj Singhal discuss if investors are underestimating the implications of a slowdown in US and Europe for the Indian market
The private lender aims for conscious growth this fiscal and is open for acquisitions
According to the Enforcement Directorate, Avinash Bhosale and Sanjay Chhabria, two arrested Maharashtra builders, have assets worth Rs 415 crore attached in a case involving money laundering and the Yes Bank-DHFL bank loan fraud.
After a long underperformance, Yes Bank prices have finally given a breakout from its immediate short term resistance which was placed around Rs 16-16.20. The stock has witnessed huge buying interest which can be seen through its high volumes.
Sunil Kaul is managing director and financial services sector lead for Carlyle Asia and Shweta Jalan is managing partner at Advent International who heads India business for the private equity firm.
The stock had jumped 5.75 per cent to Rs 15.80 during the day on the BSE. Later, it settled at Rs 15.19 apiece, up 1.67 per cent.
Prashant Kumar, Yes Bank’s MD & CEO, also said both Advent and Carlyle will each have one Nominee Director on the bank’s board
More than marquee funding, the progress on fixing stressed assets through the asset reconstruction route in partnership with JC Flowers will earn it the trust of the market
Retail, SME finance and digital are "key drivers of growth" for Yes Bank, Shweta Jalan said.
Carlyle has sought board nomination as part of the deal which allows it to acquire 10 percent stake in Yes Bank
The bank further mentioned the capital raise will help it achieve its medium- to long-term sustainable growth goals and increase the bank's capital adequacy.
The MD & CEO of Yes Bank is confident of raising a billion dollar this fiscal, even as a clutch of PE players are interested in taking up stake
YES Bank Board had on July 15 approved US based JC Flowers Asset Reconstruction Company's bid to be considered the base bid for the proposed sale of stressed assets via Swiss challenge auction.
The size of its total balance sheet grew 17 percent YoY to Rs 3.18 lakh crore as on June end
Net Interest Margin (NIM) for the quarter came in at 2.4 percent, Yes Bank said in a BSE filing.
Carlyle and Advans have held a series of meetings with the senior management of Yes Bank and the investment size could be $1 billion, reports have said
In March 2020, the RBI had superseded YES Bank’s board due to irregularities within the lender. It had appointed two additional directors on the board, namely former deputy governor of the RBI, R Gandhi, and Ananth Narayan, an associate professor at SP Jain Institute of Management and Research.
As per Kumar, JC Flowers has submitted a base bid of over Rs 11,000 crore for the bad loan pool and any bidder has to match the offer or bid higher to acquire YES Bank’s stressed loans
YES Bank had recently approved JC Flowers ARC to be the base bidder for the proposed sale of the bank’s identified stressed loan pool amounting to Rs 48,000 crore.
The sale of GNPAs would be done through Swiss Challenge method
The agency filed the additional charge sheet in the case of cheating against Yes Bank founder Rana Kapoor and Dewan Housing Finance Limited (DHFL) promoters Kapil and Dheeraj Wadhawan last month.
YES Bank clarified that while it has started the process to seek a partner for an asset reconstruction company, the process is still underway and no binding decision has been taken yet to finalise JC Flowers and Co’s ARC.