Money & Banking

Yes Bank gets non-binding EoIs from investors

Our Bureau Mumbai | Updated on February 12, 2020 Published on February 12, 2020

Q3 results to be delayed, will be announced before March 14

 

Announcing a delay in its third-quarter results, private sector lender Yes Bank on Wednesday said that it had received non-binding expressions of interest ("EoIs") from several prominent investors as part of its capital raising plans.

These include JC Flowers & Co; Tilden Park Capital Management LP; OHA (UK) LLP (part of Oak Hill Advisors) and Silver Point Capital.

“The bank and its financial advisors are currently in discussions with these investors on the commercial terms, including pricing, of their investments which, it may be noted, will be subject to certain conditions and receipt of requisite approvals…” it said in a regulatory filing.

It further said that the bank and its management is deeply engaged with the exercise, which includes extensive work with its investment bankers, legal and accounting advisors, the investors and the independent vendor.

“Given that the current capital raising process has the Bank’s fullest attention, it would like to inform the exchanges that it will publish its unaudited financial results for the quarter and nine-month period ending December 31, 2019 on or before March 14, 2020,” it said.

Under SEBI regulations, there is a 45 day period from the end of the relevant quarter in which listed entities have to announce their results.

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Published on February 12, 2020
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