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Yes Bank’s board will meet next week to approve a preferential allotment of shares to investors, none of which will receive more than a 25% stake.
Yes Bank aims to raise about $1.2 billion in capital and says it has received offers from bidders including an unnamed North American family office.
Yes Bank reported a loss of Rs 600 crore for the three months compared to analysts' expectation of Rs 400 crore.
Yes Bank stock surged 33% after CEO Ravneet Gill announced his plan of selling $1 billion-$1.2 billion of new shares to private equity investors and technology companies.
Ravneet Gill, who takes over as Yes Bank CEO Friday, will have to walk a fine line & repair relations with RBI.