"The solution proposed was for State Bank of India (SBI) to lead a rescue with private bankers including ICICI Bank, HDFC Bank, Kotak Bank and others chipping in equity, agreeing to commit funds for at least two years and getting a seat on the board.
If they are able to pull it off, we will have a unique new model of resolution," we had mentioned.
Similar to SBI, the private sector lenders are also paying a premium of Rs8 on a share price of Rs2 for buying the 5% stake in Yes Bank.
SBI would be investing Rs7250 crore for buying 725 crore shares of Yes Bank.
The Authorised share capital of the Yes Bank will be revised upwards from Rs1,100 crore to Rs6,200 crore.
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