Lack of marquee investors, fear of RBI refusal hit YES Bank shares, bonds

On Friday evening, the bank had announced that its board had agreed to raise $2 billion from an assortment of investors

Topics
YES Bank | Bond investors

Hamsini Karthik & Dev Chatterjee  |  Mumbai Last Updated at December 3, 2019 01:14 IST

Lack of marquee investors and fear that the Reserve Bank of India (RBI) will not clear the investments by the new investors hit the share price of YES Bank on Monday. The bank’s stock closed 6.2 per cent down at Rs 64 a share. The bank’s dollar bonds due in February 2023 also fell the most in two months.

On Friday evening, the bank had announced that its board had agreed to raise $2 billion from an assortment of investors. Of this, $1.2 billion will come from Canada-based businessman Erwin Singh Braich and SPGP Holdings. The second big investment was coming from CITAX ...