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Shares of YES Bank rose as much as 10.1 per cent to Rs 96.5 amid a financials-led rebound on the main indexes.
TPG Capital's Indian private equity arm and Advent International Corp are among institutional investors that will infuse fresh capital into YES Bank, according to a news report.
TPG and Advent are 'most likely' to invest around $350 million each in the bank, according to the news report.
Moody's had said in June, when it placed YES Bank's ratings under review for downgrade, that the lender's loss absorbing capacity and financial profile would be under pressure if it cannot raise capital.
YES Bank has exposure to several troubled companies, including Dewan Housing Finance Corp Ltd and Jet Airways Ltd.
YES Bank and TPG Capital declined to comment, while Advent did not immediately respond to Reuters' request for comment.
The YES Bank stock is the top percentage gainer on the NSE and BSE indexes; more than 123 million shares changed hands by 0735 GMT, versus a 30-day moving average of 127.2 million shares.
Nine of the 39 analysts covering the stock have a “buy” or “strong buy” rating, 13 have a “hold”, while 17 rate it at “sell” or “strong sell”; median PT is Rs 108, according to Refinitiv data.
The stock is down 51.8 per cent this year as of last close.
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