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    YESBANK   INE528G01035

YES BANK LIMITED

(YESBANK)
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End-of-day quote. End-of-day quote NSE India Stock Exchange - 01/20
13.8 INR   0.00%
01/20YES BANK : Confirmation of interest payment - January 20, 2022
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01/17YES BANK : Confirmation of interest payment -  January 17, 2022
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01/17YES BANK : News Verification
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SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector news

Yes Bank yet to decide on Braich's $1.2 billion offer in crucial fund raise

12/10/2019 | 07:54am EST
FILE PHOTO:  The logo of Yes Bank is pictured on the facade of its headquarters in Mumbai

India's Yes Bank Ltd said on Tuesday it was still discussing a $1.2 billion offer from Canadian investor Erwin Singh Braich and Hong Kong-based SPGP Holdings as part of a $2 billion capital raise it announced last month.

The fund raising is crucial to boost Mumbai-based Yes Bank's capital base as it battles high levels of bad loans due to its exposure to India's crisis-hit shadow banking and real estate sectors.

The bank also said it was willing to "favorably consider" a $500 million offer from Citax Holdings and Citax Investment Group, with the final decision on this to follow in the next board meeting. It did not specify when the next meeting would be held.

It will continue to evaluate other potential investors to raise up to $2 billion, India's fifth largest private-sector lender by assets said in a statement https://www.nseindia.com/corporate/YESBANK_10122019163226_SEIntimationDecember102019_199.PDF on Tuesday.

Other investors who had shown an interest in Yes Bank include Discovery Capital and Aditya Birla Family Office.

"Markets have already reacted negatively as they sensed delays in the money coming in, and now with the deals not getting finalised, they will react further," said Saurabh Jain, assistant vice-president research, SMC Global Securities.

"CEO Gill had said that there was a lot of investor interest in the bank, and now with the ongoing development, I think credibility has been lost."

Yes Bank shares have fallen nearly 26% since the lender announced its capital raising plans at the end of November. The stock ended down 10.1% on Tuesday at its worst closing level in nearly seven weeks.

Analysts have also questioned the quality of the investors, and raised doubts over whether the central bank would give approval to investors who want to take a more than 10% stake.

Braich has been mired in several lawsuits including bankruptcy cases. Analysts believe even if the board approves the investment plan, it may get rejected by the central bank.

Earlier this month, Moody's Investors Service had downgraded Yes Bank's rating, saying that significant execution risks around the timing, price and regulatory approvals required on its capital raising plan remains.

By Nupur Anand and Chris Thomas


© Reuters 2019
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LETS HOLDINGS GROUP CO., LTD. -1.39% 7.08 End-of-day quote.-3.01%
LOOK HOLDINGS INCORPORATED 0.79% 1146 Delayed Quote.-5.99%
YES BANK LIMITED 0.00% 13.8 End-of-day quote.-13.45%
All news about YES BANK LIMITED
01/20YES BANK : Confirmation of interest payment - January 20, 2022
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01/17YES BANK : Confirmation of interest payment -  January 17, 2022
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01/17YES BANK : News Verification
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01/13YES BANK : pledges to cut greenhouse gas emissions to net zero by 2030
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01/13Yes Bank Reportedly Seeking as Much as INR 120,000 Million from Potential Investors
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01/11YES BANK : ties up with Manipal Academy of BFSI to offer PG diploma to banking aspirants
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01/05YES BANK : Certificate under Regulation 57(5) of SEBI (LODR) Regulations, 2015 for the qua..
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01/04YES Bank's Net Advances Jumps Nearly 4% by December-End
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01/01YES BANK : Confirmation of interest payment - December 31, 2021
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2021YES BANK : Details of interest payable during the Quarter Jan - Mar 2022 under Regulation ..
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Analyst Recommendations on YES BANK LIMITED
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Financials
Sales 2022 98 757 M 1 328 M 1 328 M
Net income 2022 2 567 M 34,5 M 34,5 M
Net Debt 2022 - - -
P/E ratio 2022 112x
Yield 2022 0,07%
Capitalization 345 B 4 635 M 4 631 M
Capi. / Sales 2022 3,49x
Capi. / Sales 2023 2,76x
Nbr of Employees 22 270
Free-Float 56,8%
Chart YES BANK LIMITED
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Yes Bank Limited Technical Analysis Chart | MarketScreener
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Income Statement Evolution
Consensus
Mean consensus -
Number of Analysts 0
Last Close Price 13,75 
Average target price
Spread / Average Target -
EPS Revisions
Managers and Directors
Prashant Kumar Chief Executive Officer, MD & Executive Director
Niranjan Banodkar Head-Financial & Investor Strategy
Sunil Mehta Non-Executive Chairman
Mahesh Ramamoorthy Chief Information Officer
Anita Pai Chief Operating Officer & Senior Group President
Sector and Competitors