homevideos Newsfinance NewsINTERVIEW | Yes Bank is at an inflection point, we believe in the story: Advent International
INTERVIEW | Yes Bank is at an inflection point, we believe in the story: Advent International
Yes Bank has announced fund raising to the tune of $1.1 billion from Carlyle & Advent. Each of the private equity players will own 10 percent stake in Yes Bank via mix of equity and warrants.
Yes Bank has announced fund raising to the tune of $1.1 billion from Carlyle & Advent. Each of the private equity players will own 10 percent stake in Yes Bank via mix of equity and warrants. Both Carlyle & Advent have sought board position.
The bank proposes to issue 370 crore equity shares on a preferential basis at a price of Rs 13.78 per share and 257 crore warrants convertible into equity shares at a price of 14.82 per warrant, adding Rs 8,900 crore to the equity capital base of the lender.
The bank will hold an extraordinary general meeting (EGM) on August 24 for shareholders' approval while the deal will also need the Reserve Bank of India's (RBI) nod.
The capital raise will further bolster the capital adequacy of Yes Bank and aid the bank’s medium to long-term sustainable growth objectives.
In an interview with CNBC-TV18, Shweta Jalan, Managing Partner, Advent International, said that the lender's NPA issues are by and large behind it and that it is at an inflection point. "We believe in the story," she said, adding that retail, SME and digital focus are key drivers of growth for the bank.
Watch the accompanying video for the full interview
Check out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!
Shehnai by Ustad Bismillah Khan's kin, ode to Kashi's celebrities: PM Modi's roadshow to showcase Varanasi's grandeur
May 13, 2024 11:03 AM
Piyush Goyal speaks on '400 paar' target, Maharashtra power play and more | Full text
May 13, 2024 9:00 AM
Why low voter turnout continues to be a serious subject of discussion as Phase-4 voting begins today
May 13, 2024 8:32 AM
Only 12% of candidates in fray in phase 5 are women, says ADR
May 13, 2024 7:15 AM