MUMBAI, Oct. 31 (Xinhua) — Indian private sector lender Yes Bank has received a 1.2-billion-U.S. dollar binding offer from a global investor against fresh issuance of equity shares, the bank said in a statement to the Bombay Stock Exchange Thursday.
Without disclosing the name of the investor, the statement said it also continued to be in advanced discussions with other global and domestic investors.
On Sept. 25, the bank had informed stock exchanges that it had received strong interest from multiple foreign as well as domestic private equity and strategic investors to raise capital.
The private lender had been for the past several months trying to raise capital to overcome its liquidity crisis.
In August, the lender raised 270 million U.S. dollars through qualified institutional placement at a floor price of 1.24 U.S. dollars.
According to analysts, Yes Bank liquidity crisis emerged from the shadow banking crisis due to financial irregularities and surging bad loans in the Asia’s third largest economy that soured the sentiment of the entire financial sector in the country.
The liquidity crisis at Yes Bank had led to market speculation about the lender’s capital and liquidity position, which was strongly refuted by its CEO Ravneet Gill earlier this month.
Following the stock market announcement on the global bid, the Yes Bank stock rallied 39 percent intra-day to close at 0.99 U.S. dollar per shares on Thursday, up 24 percent from the previous close.
- FPIs remain positive on Indian markets; invest Rs 41,330 crore in Aug so far
- VIETNAM'S BUSINESS NEWS HEADLINES AUGUST 26
- VIETNAM'S BUSINESS NEWS HEADLINES AUGUST 18
- Hanoi urged to improve infrastructure system, administrative reforms
- The $30 bn Sale & Leaseback of India's Internet Economy
- Raizen, Ultrapar among likely bidders for Petrobras refinery in Parana: sources
- VIETNAM'S BUSINESS NEWS HEADLINES AUGUST 14
- VIETNAM'S BUSINESS NEWS HEADLINES AUGUST 20
- VIETNAM'S BUSINESS NEWS HEADLINES AUGUST 24
- VIETNAM'S BUSINESS NEWS HEADLINES AUGUST 15
- VIETNAM'S BUSINESS NEWS HEADLINES AUGUST 27
- VIETNAM'S BUSINESS NEWS HEADLINES AUGUST 25
- VIETNAM'S BUSINESS NEWS HEADLINES AUGUST 16
- Boom or bust? Welcome to the freewheeling world of crypto lending
- VIETNAM'S BUSINESS NEWS HEADLINES AUGUST 19
- Banks Sued for LIBOR Collusion — Again!
- 2019: NCLAT passed several judgements but many of them failed Supreme Court perusal
- Exclusive | Yes Bank investigating allegations of misselling of AT1 bonds by executives, says MD & CEO Prashant Kumar
- People's Bank of China picks up stake in ICICI Bank via QIP issue
- Lightnet Group Announces Joint Venture Partnership with SEBA Bank
Indian lender receives 1.2-bln-USD binding offer from global investor have 387 words, post on www.xinhuanet.com at October 31, 2019. This is cached page on Talk Vietnam. If you want remove this page, please contact us.