Money & Banking

Yes Bank to favourably consider Citax’s $500 million investment offer

Our Bureau Mumbai | Updated on December 10, 2019 Published on December 10, 2019

The binding offer of $1.2 billion submitted by Erwin Singh Braich/SPGP Holdings continues to be under discussion

The board of private sector lender Yes Bank has decided to “favourably consider” the proposed $500 million investment of Citax Holdings and Citax Investment Group but has not decided on the planned $1.2 billion investment from Erwin Singh Braich.

“The binding offer of $1.2 billion submitted by Erwin Singh Braich / SPGP Holdings continues to be under discussion,”it said in a regulatory filing on Tuesday, adding that the bank will continue to evaluate other potential investors to raise capital up to $2 billion.

Another round of meeting of the board is likely soon.

Yes Bank scrip closed 10 per cent lower on BSE at ₹50.55 apiece.

Published on December 10, 2019
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