In Friday’s trade, shares of YES Bank advanced as much as 10 per cent after media reports that TPG Capital’s Indian private equity arm and Advent International Corporation are among institutional investors that may infuse fresh capital into the lender.
9.98 per cent to Rs 96.40 in late morning trade is gained by the scrip. However, the benchmark BSE Sensex was up around 0.25 per cent.
It was also in the headlines on Thursday that WestBridge Capital Partners, Farallon Capital, and GIC, Singapore’s sovereign wealth fund, are likely to be among the top investors in the upcoming share sale by cash-starved lender Yes Bank.
Through a qualified institutional placement (QIP), the private lender is looking to raise $350-400 million through, which is expected to open within the next two weeks. The bank is looking to shore up its capital base due to a spike in bad loans.