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<ul><li>The Reserve Bank of India (RBI) is looking into all options as the fundraising deadline for Yes Bank approaches in less than 15 days according to a report by Mint.</li><li>The apex banking institution is considering an interim bailout, sale of pooled assets or even a small take sale to public sector banks.</li><li>The RBI fears that the fall of Yes Bank could trigger a larger domino effect in the banking industry.</li></ul>Yes Bank’s financial troubles may be worse for wear as the Reserve Bank of India (RBI) considers possible interventions. India’s apex bank is considering all options, including an interim bailout if the bank doesn’t meet its deadline to raise $2 billion by March 14, according to a report by <a href="https://www.livemint.com/companies/news/rbi-readies-a-rescue-plan-if-yes-bank-fails-to-raise-funds-11583086094740.html">Mint</a>. Sources, on the condition of anonymity, told Business Insider that the bank cannot currently comment on the issue since any commentary related to capital raising will also have to be filed with the Securities and Exchange Board of India (SEBI). While Yes Bank is confident that it will have things wrapped up by March 14, the RBI is keeping public sector banks on standby in case the deadline is overshot. In addition to an interim bailout, intervention by the RBI could also include the sale of pooled assets to a state-run bank, according to the report. As a last resort, Yes Bank may also be forced to sell a small stake to a public sector bank for sustainable finance. Why is the RBI so worried? The RBI fears that the collapse of Yes Bank could trigger a domino effect pulling down other interlinked financial institutions with a dampening effect on the economy, which could worsen an already slow credit growth rate. According to the latest data by the RBI, bank credit growth was at 8.5% in January this year — far below 13.5% from a year ago. Yes Bank’s financial troubles came to light last year after the RBI did not extend the term of founder Rana Kapoor as the CEO in 2018. <a href="https://www.businessinsider.in/stock-market/news/yes-bank-news-and-share-price-under-ceo-ravneet-gill/articleshow/71884080.cms">Ravneet Gill</a>, the bank’s new CEO, has managed to raise one round of funds through a share sale to institutional investors. For the next round, <a href="https://www.businessinsider.in/business/corporates/news/yes-bank-bid-from-hinduja-group-and-new-yorks-cerebrus-capital-management/articleshow/74226738.cms">potential investors</a> like JC Flowers &amp; Co, Tilden Park Capital Management, OHA (UK) and Silver Point Capital have sent in their ‘non-binding’ expression of interest according to <a href="https://economictimes.indiatimes.com/markets/stocks/news/jc-flowers-led-group-may-invest-2-billion-in-yes-bank/articleshow/74109711.cms">ET</a>. Yes Bank also brought on former CEO of Deutsche Bank and president of Cantor Fitzgerlad <a href="https://economictimes.indiatimes.com/industry/banking/finance/banking/yes-bank-ropes-in-anshu-jain-former-chief-of-deutsche-bank-to-raise-funds/articleshow/73953909.cms">Anshu Jain</a> to help raise funds for the bank in February. Sources, on the condition of anonymity, told Business Insider that negotiations are currently in the final stages and RBI intervention may not be necessary. However, others feel that the March 14 deadline is “<a href="https://www.livemint.com/companies/news/rbi-readies-a-rescue-plan-if-yes-bank-fails-to-raise-funds-11583086094740.html">overly optimistic</a>”. The fundraising exercise is also why the bank had to delay the announcement of its third-quarter results in February seeking a 45-day extension. See also: <a href="https://www.businessinsider.in/business/corporates/news/yes-bank-bid-from-hinduja-group-and-new-yorks-cerebrus-capital-management/articleshow/74226738.cms">Bid for Yes Bank: The $15 billion Hinduja Group and a New York-based investor reportedly join hands</a> <a href="https://www.businessinsider.in/stock-market/news/yes-bank-news-and-share-price-under-ceo-ravneet-gill/articleshow/71884080.cms">Yes Bank under CEO Ravneet Gill⁠— eight months of wild mood swings</a> <a href="https://www.businessinsider.in/business/news/rating-agencies-downgrade-yes-bank/articleshow/72891244.cms">Yes Bank's lack of funds leads to ratings downgrade</a>

RBI may have to bail out Yes Bank if it fails to raise $2 billion by March 14

New Delhi, Mar 23 () Yes Bank on Monday said its board will consider a proposal to raise funds via equity and bonds, at its meeting later this week. "The meeting of the board of directors of Yes Bank Ltd is scheduled for Thursday, March 26, 2020, at Mumbai to consider, amongst other agenda items, a proposal for raising funds by issue of equity shares/ depository receipts/ convertible bonds/ debentures/ warrants/ any other equity-linked securities, through permissible modes," it said in a BSE filing. The fundraising plan will also include a qualified institutions placement, rights issue, and further public offer, among others, subject to such approvals, the bank added. The lender has already raised over Rs 10,000 crore from SBI and other key banks and financial institutions through sale of equity under its reconstruction plan approved by the government and the Reserve Bank of India (RBI). Additionally, the RBI has also extended a Rs 60,000-crore credit line to Yes Bank for meeting obligations, as per sources. According to Section 17 of the Reserve Bank of India Act, 1934, the central bank can provide liquidity support to any lender in the form of loans and advances against collateral such as stocks, funds and securities (other than immovable property) in which a trustee is authorised to invest trust money by an Act of Parliament. According to the sources, the RBI's assessment found that Yes Bank had liquidity issues but no solvency problem or any other issue. The line of credit, however, is first such exercise by the central bank. After witnessing decent recovery since the RBI superseding its board and planning out the reconstruction scheme, the stock of the bank closed over 13 per cent down at Rs 39.75 apiece on the BSE due to the coronavirus pandemic gripping the markets globally. KPM HRS

Yes Bank board to consider fundraising plan later this week

<ul><li>Credit Suisse estimates that Indian banks will shore up $20 billion in capital to meet the demands of their debt.</li><li>Kotak Mahindra Bank already on the ball with a QIP worth ₹7,100 crore ($940 million) announced today.</li><li>Axis Bank is also reportedly in talks with Carlyle to raise $1 billion in funding.</li></ul>Unwilling to take risks and facing rating downgrades, India’s banks, including the biggest State Bank of India (SBI), and private lenders like Axis Bank, are on the hunt for fresh capital. However, most of it will go into filling up a massive hole left by bad loans. For other non-banking firms in the financial sector, refinancing isn’t going to come easy. Credit Suisse estimated that Indian banks will need to shore up nearly $20 billion in capital to hedge against upcoming risks as the coronavirus pandemic continues to bear heavily on the economy. More than half of the requirement, an estimated $13 billion, is going be from public sector banks, according to the investment bank. <div type="javascript" title="Custom" contenttype="Image"><cdata><![CDATA[<div style='width:100%!;margin-top:4px!important;text-align:right!important;'><a class='flourish-credit' href='https://public.flourish.studio/visualisation/2596155/?utm_source=embed&utm_campaign=visualisation/2596155' target='_top' style='text-decoration:none!important'> </a></div>]]></cdata></div> “We estimate that 70% of the Indian financial system’s lending capacity is now constrained,” the report said estimating that 25% of the credit lies with public sector banks — excluding the State Bank of India (SBI) — are is yet to be free of the prior burden of non-performing assets (NPAs). Banks need money to repay about $2.9 billion worth bonds that are up for repayment in the next 12 months. “We estimate ₹2.5 trillion ($33 million) of debt is already downgraded to ratings that are likely to make refinancing challenging,” the financial services company said in its report. <div type="javascript" title="Custom" contenttype="Image"><cdata><![CDATA[<div style='width:100%!;margin-top:4px!important;text-align:right!important;'><a class='flourish-credit' href='https://public.flourish.studio/visualisation/2596276/?utm_source=embed&utm_campaign=visualisation/2596276' target='_top' style='text-decoration:none!important'> </a></div>]]></cdata></div> Kotak Mahindra Bank launches its QIP Kotak Mahindra Bank is already on the ball with the launch of its ₹7,100 crore ($940 million) qualified institutional placement (<a href="https://www.bseindia.com/xml-data/corpfiling/AttachLive/c2ab6c3e-ef08-4347-9281-422fd21c483b.pdf">QIP</a>). This allows the private lender to raise capital from domestic markets without the need to submit at pre-issue filings with the market regulator, the Securities and Exchange Board of India (SEBI). The equity shares will be issued at a discount of 5% on the floor price, which is close to ₹1,148 per share. Kotak Mahindra Bank's share price rallied by more than 5% on May 27. <div type="javascript" title="Custom" contenttype="Image"><cdata><![CDATA[<div style='width:100%!;margin-top:4px!important;text-align:right!important;'><a class='flourish-credit' href='https://public.flourish.studio/visualisation/2596375/?utm_source=embed&utm_campaign=visualisation/2596375' target='_top' style='text-decoration:none!important'> </a></div>]]></cdata></div> Axis Bank is looking to raise $1 billion Another private player, Axis Bank, is also looking to raise $1 billion to private equity firm Carlyle, according to <a href="https://economictimes.indiatimes.com/markets/stocks/news/axis-bank-board-to-meet-on-apr-25-to-consider-fundraising/articleshow/68598582.cms?from=mdr">PTI</a>. “The brass seems to be warming up to the idea of another deep-pocket marquee investor in recent weeks,” a source told the publication. An investment of this size will be that Carlyle will own between 5% to 8% stake in Axis Bank. Its share price jumped by over 13% on May 27. <div type="javascript" title="Custom" contenttype="Image"><cdata><![CDATA[<div style='width:100%!;margin-top:4px!important;text-align:right!important;'><a class='flourish-credit' href='https://public.flourish.studio/visualisation/2596439/?utm_source=embed&utm_campaign=visualisation/2596439' target='_top' style='text-decoration:none!important'> </a></div>]]></cdata></div> IndusInd Bank’s Hinduja family wants to raise its stake Simultaneously, IndusInd Bank is reportedly in talks with Japan’s Nippon Life to battle the growing threat of bad loans and ratings downgrades. Like Uday Kotak, the owners of IndusInd Bank — the Hinduja family — is also looking to <a href="https://www.livemint.com/companies/news/indusind-bank-clarifies-on-fund-raising-reports-11585905610222.html">increase their stake</a> to 26% instead of the RBI’s mandated 15% in this time of crisis. Following in the steps of other banks, IndusInd Bank's share price was up by 5.8% on May 27. <div type="javascript" title="Custom" contenttype="Image"><cdata><![CDATA[<div style='width:100%!;margin-top:4px!important;text-align:right!important;'><a class='flourish-credit' href='https://public.flourish.studio/visualisation/2596481/?utm_source=embed&utm_campaign=visualisation/2596481' target='_top' style='text-decoration:none!important'> </a></div>]]></cdata></div> Smaller players like RBL Bank, AU Small Finance Bank, IDFC First, Yes Banks and others are also looking to go down the QIP-route for undisclosed amounts to raise capital and shore up their balance sheets. They account for 8% of the credit in the Indian financial system and have been bearing the brunt of deposit outflows and liquidity constraints, according to Credit Suisse. It’s not just banks Banks are only a part of the liquidity crunch in the economy. Non-banking financing companies (NBFCs) have been pulling back on credit since the IL&amp;FS crisis of 2018. And, with mutual funds now frowning upon investing in NBFCs, they now have limited access to funding from the domestic debt market, according to Credit Suisse. “Asset Liability Management (ALM) challenges for NBFCs are turning more severe with access to funding differentiated and a 6-month moratorium on 30% to 70% of loans,” said the report. <div type="javascript" title="Custom" contenttype="Image"><cdata><![CDATA[<div style='width:100%!;margin-top:4px!important;text-align:right!important;'><a class='flourish-credit' href='https://public.flourish.studio/visualisation/2596549/?utm_source=embed&utm_campaign=visualisation/2596549' target='_top' style='text-decoration:none!important'> </a></div>]]></cdata></div> Even though the Indian government announced multiple measures to try and help the sector, the benefits are likely to be limited. “The government has announced a ₹300 billion special liquidity window for purchasing the securities of NBFCs. However, the scheme is for short-term paper, and available to investment grade entities, which impacts its effectiveness,” said Credit Suisse. “Our analysis shows that around ₹640 billion of borrowings for 'AA'-and-below-rated NBFCs are coming up for refinancing from April to December 2020,” it added, pointing out that sell-downs and external commercial borrowings (ECBs) are now the key avenues for them to meet their refinancing needs. SEE ALSO: <a href="https://www.businessinsider.in/business/corporates/news/mukesh-ambani-may-not-be-done-selling-stake-in-jio-even-after-one-sixth-of-the-telco-is-already-out-of-his-hands/articleshow/75892898.cms">Mukesh Ambani may not be done selling stake in Jio even after one-sixth of the telco is already out of his hands</a> <a href="https://www.businessinsider.in/business/corporates/news/airtel-share-price-target-as-africa-unit-nears-a-billion-dollars-in-revenue/articleshow/75970641.cms">Airtel’s Africa unit is now a nearly-billion dollar business where every user pays 40% more than the one in India</a> <a href="https://www.businessinsider.in/tech/enterprise/news/three-ways-tcs-infosys-and-other-it-giants-in-india-are-trying-to-cut-costs-but-its-not-going-to-increase-their-profitability/articleshow/76021884.cms">Three ways TCS, Infosys and other IT giants in India are trying to cut costs — but it’s not going to increase their profitability</a>

Indian lenders like SBI, Axis Bank and others need $20 billion⁠ in capital— most of it will go into filling up NPA holes

Mumbai, Feb 5 () Private sector lender Yes Bank has appointed Anshu Jain-headed global investment bank Cantor Fitzgerald and two domestic entities for its fundraising plans, sources said on Wednesday. Other merchant bankers appointed by the capital-starved lender include IDFC Securities and Ambit Capital, they said. Jain is the ex-colleague of Yes Bank's current Managing Director and Chief Executive Officer Ravneet Gill, who has made the capital-raising as his top priority after taking over last March. Jain was the co-chief executive of German lender Deutsche Bank globally, while Gill was heading the India operations. A bank spokesperson did not respond immediately to an e-mail on the same. Recognition of sour bets taken under his predecessor Rana Kapoor has depleted Yes Bank's capital buffers, and also forced it to reduce its loan book. It has, however, been struggling to raise the required capital for the past three months. It initially announced a plan to raise USD 2 billion, and had last month announced a new round of raising Rs 10,000 crore in fresh capital. On January 10, the bank's board had decided that Canadian investor Erwin Singh Braich's USD 1.2-billion offer will not be pursued further, and also hinted that a USD 500-million offer from Citax Holdings and Citax Investment Group, which was being favourably considered, is facing headwinds. The bank, which was waiting for regulatory nods as Citax's offer entailed over 10 per cent ownership, has not yet been able to get a clearance on the "conditions precedent". Without specifying timelines, it said the Citax offer will be taken up "during the next round". The scrip gained 7.58 per cent to close at Rs 37.60 a piece on the BSE. AA HRS

Yes Bank appoints Anshu Jain-headed Cantor Fitzgerald, 2 domestic entities for fundraising plans

New Delhi, Feb 12 () Troubled lender Yes Bank on Wednesday said the financial results for the third quarter ended December 2019 will be delayed and is expected by mid-March as the management is "deeply engaged" in fundraising exercise. "As you are aware, the bank is currently engaged in capital raising. In this regard, we wish to disclose that we have received non-binding expressions of interest from several prominent investors. "Given that the current capital-raising process has the bank's fullest attention, it would like to inform the exchanges that it will publish its unaudited financial results for the quarter and nine-month period ending December 31, 2019, on or before March 14, 2020," it said in a regulatory filing. Yes Bank said it has received non-binding expressions of interest from companies including JC Flowers &amp; Co. LLC; Tilden Park Capital Management LP; OHA (UK) LLP (part of Oak Hill Advisors); and Silver Point Capital. "The bank and its financial advisors are currently in discussions with these investors on the commercial terms, including pricing, of their investments which, it may be noted, will be subject to certain conditions and receipt of requisite approvals, including regulatory approvals with respect to the size of the stake to be acquired, as well as necessary dispensations with regard to applicable pricing guidelines," it said. The private sector lender said the delay in financial results exceeds the 45-day period from the end of the relevant quarter as stipulated under Regulation 33 of the Sebi (Listing Obligations and Disclosure Requirements) Regulations, 2015. It also said the bank will further inform about the progress with respect to capital raising. On November 3, Chief Executive Officer Ravneet Gill had said the bank was aiming to finish a USD 1.2-billion equity-raising exercise by December 2019 and willing to give new investors a board seat. Earlier in August, it had raised Rs 1,930.46 crore through qualified institutional placement (QIP) to fund its business expansion. In January this year, Moody's Investors Service placed Yes Bank Ltd's long-term foreign currency issuer rating of 'B2' under review, with the direction uncertain on the bank's inability to raise new capital. The Mumbai-headquartered lender had total assets of Rs 3.5 lakh crore at the end of September 2019. Shares of Yes Bank on Wednesday closed at Rs 35.20 apiece on the BSE, down 4.48 per cent from the previous close. KPM HRS

Yes Bank to delay Q3 results till mid-March, says management 'deeply engaged' in fundraising

<ul><li><keyword id="45660" type="CITY" weightage="20" keywordseo="Yes-Bank">Yes Bank</keyword> is looking to raise up to ₹10,000 crore via a follow-on public offer, reports said.</li><li>The FPO will allow Yes Bank to meet its capital requirements, as the troubled bank looks to survive the double blow of the Rana Kapoor money laundering case and the COVID-19 pandemic.</li><li>Going the FPO route allows Yes Bank to avoid borrowing at an increased cost after its AT1 funds were permanently written down by the Reserve Bank of India (RBI).</li></ul>Yes Bank is gearing up to raise up to ₹10,000 crore via a follow-on public offer (FPO). The FPO is scheduled for some time in the first half of June and <keyword id="66607" type="CITY" weightage="20" keywordseo="Kotak-securities">Kotak Securities</keyword>, Axis Cap, SBI Cap and Citi are reported to be amongst the key players. According to a CNBC TV18 <a href="https://twitter.com/CNBCTV18Live/status/1267720275140816896">report</a>, the <keyword id="9332224" type="UNKNOWN" weightage="20" keywordseo="yes-bank-fpo">Yes Bank FPO</keyword> is expected to be in the range of ₹8,000-10,000 crore. This comes after Yes Bank’s losses ballooned to ₹16,418 crore and its deposits worth ₹1.2 lakh crore have vanished. Yes Bank’s Managing Director and Chief Executive Officer Prashant Kumar told Livemint in May that the bank is looking to raise up to ₹10,000 crore via FPO, rights issue or qualified institutional placement (QIP). Last month, the Securities Exchange Board of India (SEBI) <a href="https://cfo.economictimes.indiatimes.com/news/sebi-eases-funding-norms-for-stressed-companies/75312024">relaxed</a> fundraising restrictions for stressed companies. The relaxation was in the form of reduced minimum subscription requirements – from the 90% required earlier, this has <a href="https://twitter.com/CNBCTV18Live/status/1267720275140816896">reportedly</a> been reduced to 50% now. The beleaguered bank has seen its shares plummet from ₹393 in August 2019 to an all-time low of ₹5.65 in March 2020. The bank’s shares tumbled when <a href="https://www.businesstoday.in/markets/company-stock/yes-bank-share-price-loses-30-after-rbi-takes-over-private-lender/story/397676.html">news broke</a> that the Reserve Bank of India (RBI) was taking over. The bank’s managing director at the time, Rana Kapoor, is currently <a href="https://www.businessinsider.in/business/news/the-fall-of-yes-bank-founder-rana-kapoor-from-a-billion-dollars-to-facing-a-4300-crore-investigation/articleshow/74547669.cms">being investigated</a> for money laundering to the tune of ₹4,300 crore. What is an FPO? FPO, short for follow-on public offer, is a subsequent issuance of shares to the public, after the initial public offer (IPO). FPOs are generally undertaken to either raise equity or reduce debt. Yes Bank going the FPO route is likely a result of the bank’s AT1 bonds being written down by the Reserve Bank of India (RBI). As a result of this writedown, there were <a href="https://economictimes.indiatimes.com/markets/stocks/news/yes-bank-debt-writedown-to-hit-sector-capital-raising/articleshow/74547131.cms">concerns</a> that the overall cost of raising bonds would increase. Going the FPO route allows Yes Bank to raise funds without having to worry about the increased cost of borrowing. SEE ALSO: <a href="https://www.businessinsider.in/business/news/the-fall-of-yes-bank-founder-rana-kapoor-from-a-billion-dollars-to-facing-a-4300-crore-investigation/articleshow/74547669.cms">The fall of Yes Bank founder Rana Kapoor from a billion dollars to facing a ₹4300 crore investigation</a> <a href="https://www.businessinsider.in/finance/news/yes-bank-share-price-net-loss-and-drop-in-deposits-post-q4-earnings/articleshow/75590798.cms">Yes Bank fears more deposits may disappear when COVID-19 moratorium ends and people start repaying loans</a> <a href="https://www.businessinsider.in/business/news/yes-bank-creates-stressed-asset-management-vertical-to-resolve-npa-accounts/articleshow/75601275.cms">Yes Bank creates stressed asset management vertical to resolve NPA accounts</a>

Yes Bank is looking to raise ₹10,000 crore through FPO – with Kotak Securities, Axis Capital, and SBI Capital reportedly to be key players

New Delhi, Jan 15 () Allaying concerns over reports of its weakening financial health, Yes Bank on Wednesday said the lender's capital adequacy is at a comfortable level and efforts are being made to further strengthen it.
The bank has asked its customers not to pay heed to rumours about its financial health.
"The bank's overall Capital Adequacy Ratio is comfortably above regulatory requirements and all efforts are being made to financially strengthen the bank even further. Kindly, therefore, pay no heed to these unfounded reports," Yes Bank said in a statement.
The bank plans to convene an extraordinary general meeting on February 7 to get shareholders' nod for raising Rs 10,000 crore, and to increase authorised capital from existing Rs 800 crore to Rs 1,100 crore, already cleared by the board.
Last week, Uttam Prakash Agarwal, an independent director of Yes Bank resigned from the board and stepped down as head of its audit committee citing major corporate governance concerns.
The capital-starved bank also reported setbacks in its USD 2-billion fundraising plans.
Canadian investor Erwin Singh Braich's USD 1.2 billion offer will not be pursued further, the bank had said. 
 It had further said a USD 500-million offer from Citax Holdings and Citax Investment Group, which was being favourably considered, is also facing headwinds.
 The bank, which was waiting for regulatory approvals as Citax's offer entailed over 10 per cent ownership, has not been able to get a clearance yet on the "conditions precedent". Without specifying timelines, it said the Citax offer will be taken up "during the next round".
 The troubled bank has been forced to shrink its book due to capital paucity and was hoping to close the fundraising by December.
Need for capital has been necessitated as under new CEO Ravneet Gill, the lender has had to provide for sour loan bets taken under his predecessor Rana Kapoor whose term was cut short by the RBI in 2018 over concerns on corporate governance. The central bank has also appointed former deputy governor R Gandhi to the board. DP
 
 DP ANU
ANU

Making efforts to financially strengthen bank further: Yes Bank

<ul><li>Yes Bank has been looking for an investor and Hong Kong-based SPGP Holdings has reportedly has made a $1.2 billion binding offer.</li><li>Earlier this year, SPGP Holdings’ bid for Reid &amp; Taylor was rejected because it failed to deposit the earnest money, a paltry sum of ₹2 crore.</li><li>Yes Bank’s share price soared nearly 30% after the announcement but investors must remember the proof of the pudding is in the eating.</li></ul>Cash-strapped Yes Bank has been looking for an investor and Hong Kong-based SPGP Holdings has reportedly has made a ₹8,500 crore ($1.2 billion) binding offer, according to a television channel CNBC-TV18. Investors who were anxious about the bank’s survival heaved a sigh of relief and bet big money, taking the stock of Yes Bank higher by as much as 30% in afternoon trade on October 31. Earlier in August, Yes Bank had raised ₹1,930.46 crore through qualified institutional placement to fund its business expansion. The share price has more than doubled from its <a href="https://economictimes.indiatimes.com/markets/stocks/news/whats-next-for-yes-bank-after-shares-double-from-decade-low/articleshow/71823268.cms">ten year low </a>it hit this month in anticipation of such fundraising. However, investors must remember the same SPGP Holdings bid for Reid &amp; Taylor earlier this year. It <a href="https://www.thehindubusinessline.com/companies/nclt-mumbai-puts-rtils-liquidation-plans-on-hold/article25892000.ece">reportedly</a> had a corpus of $250 million but the bid was eventually rejected by the court because SPGP Holdings failed to deposit the earnest money, a paltry sum of ₹ 2 crore. The two-judge bench at India’s bankruptcy court slammed SPGP Holdings as they rejected its bid and handed it over to another Gujarat-based asset reconstruction firm. “You painted a rosy picture and misrepresented facts before us. This is just not correct. We waited for one week and now you say you cannot pay. This is contempt of court. You may withdraw your application. We are very unhappy with you,” Justice Mohan <a href="https://economictimes.indiatimes.com/markets/stocks/news/reid-taylor-case-court-dismisses-spgps-plea-new-investor-in-the-fray/articleshow/67551449.cms?from=mdr">reportedly</a> told SPGP director Pankaj Agarwal, who was present in court. For now, Yes Bank’s investors are in cloud nine. "The bank also continues to be in advanced discussions with other global and domestic investors," Yes Bank’s statement said, adding that the fundraising plan is subject to regulatory approvals and bank's board and shareholders approvals. The stock has lost over 60% of its value since the start of this year to hit a ten-year low. 
 
 
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 Hope floats that Yes Bank may come out of its current cash crunch and crisis of confidence, which is why the share price of Yes Bank has more than doubled in recent weeks. But investors must remember the proof of the pudding is in the eating. SEE ALSO: <a href="https://www.businessinsider.in/yes-bank-plans-to-grow-25-by-2020/articleshow/71105078.cms" data-type="tilCustomLink" target="_blank">YES Bank wants to customize branches, ramp up digitize customer acquisition to grow at a breakneck speed of 25%</a> <a href="https://www.businessinsider.in/yes-bank-stock-spikes-11-6-in-early-trade-as-it-stays-clear-of-losses/articleshow/70271361.cms">Yes Bank's share price is not celebrating the surprise profit because it has a capital problem</a> <a href="https://www.businessinsider.in/yes-bank-q1-earnings-report-yes-bank-share-price-q1-earnings-repor/articleshow/70261380.cms">Yes Bank profits dropped 91%-- but it was still way better than expectations</a>

Yes Bank’s white knight SPGP Holdings didn’t have ₹2 crore to bid for Reid & Taylor in Jan 2019

New Delhi, Dec 12 () Shares of Yes bank on Thursday rose as much as 14 per cent on the bourses mainly due to profit booking.
On the BSE, the scrip after opening on a positive note further rose to an intra-day high of Rs 48.15, up 12.5 per cent. Later, the stock was quoting at Rs 46.20 in the afternoon trading session, up 7.83 per cent from the previous close.
Similar movements were seen on the NSE, where the scrip jumped 14 per cent to Rs 48.80. In the afternoon trade, the stock was trading at Rs 46.30, up 8.18 per cent from the previous close.
 The uptrend in the counter comes following a fall in the bank's shares for five consecutive trading sessions due to uncertainty over its USD 2-billion fundraising plan.
Market experts attributed the surge in the share price of the bank to profit booking.
The lender after its board meeting on Tuesday said it would continue to evaluate other potential investors to raise capital up to USD 2 billion.
 "The board is willing to favourably consider the offer of USD 500 million of Citax Holdings and Citax Investment Group and the final decision regarding allotment to follow in the next board meeting, subject to requisite regulatory approval(s)," it had said in a regulatory filling.
 The binding offer of USD 1.2 billion submitted by Erwin Singh Braich / SPGP Holdings continues to be under discussion, it had added. SHW ANU
ANU

Yes Bank surges 14% on profit booking

New Delhi, Dec 10 () Shares of Yes Bank on Tuesday fell over 10 per cent amid reports about difficulty being faced by the lender over a USD 2-billion fundraising plan.
 The stock dived 10.05 per cent to end at Rs 50.55 on the BSE. During the day, it plunged 12.27 per cent to Rs 50.55.
 On the National Stock Exchange (NSE), the company's shares tumbled 10.4 per cent to close at Rs 50.40 apiece. During the day, the stock plummeted 13.68 per cent on the NSE.
 In terms of the equity volume, 2.29 crore shares of the company were traded on the BSE and over 34.5 crore shares changed hands on the NSE during the day.
 According to reports, the bank was likely to reject the offer of the proposed capital infusion.
 However, the lender after the market hours said it shall continue to evaluate other potential investors to raise capital up to USD 2 billion.
 "The board is willing to favourably consider the offer of USD 500 million of Citax Holdings and Citax Investment Group and the final decision regarding allotment to follow in the next board meeting, subject to requisite regulatory approval(s)," it said in a regulatory filling.
 The binding offer of USD 1.2 billion submitted by Erwin Singh Braich / SPGP Holdings continues to be under discussion, it further added. SHW HRS

Yes Bank shares plunge nearly 10 pc amid capital infusion

<ul class="summary-list"><li><keyword id="11930691" type="UNKNOWN" weightage="60" keywordseo="sam-bankman-fried" source="Orion">Sam Bankman-Fried</keyword> is pumping big money into an unregulated industry that lacks a central savior.</li><li>The crypto billionaire has said he feels obligated to "stem contagion" and make bad deals "if that's what it takes to sort of stabilize things."</li></ul>Sam Bankman-Fried is spending big money to save failing <keyword id="11892695" type="UNKNOWN" weightage="60" keywordseo="cryptocurrency" source="Orion">cryptocurrency</keyword> ventures, pumping liquidity into an unregulated industry that lacks a central savior.He told NPR last month that he <a href="https://www.npr.org/2022/06/19/1105853170/crypto-billionaire-says-fed-is-driving-current-downturn?t=1655714493949&amp;t=1655716233544">feels obligated to "stem contagion."</a> And speaking to Forbes last week, Bankman-Fried said FTX, the cryptocurrency exchange he founded and helms, is "<a href="https://www.forbes.com/sites/stevenehrlich/2022/06/28/bankman-fried-some-crypto-exchanges-already-secretly-insolvent/?sh=165c86847f7f">willing to do a somewhat bad deal here, if that's what it takes to sort of stabilize things</a>."Those bad deals include extending lifelines to victims of a market rout that has yet to settle as risk assets respond to tightening from the Federal Reserve. Last month, he offered up to $500 million in cash and cryptocurrencies to Voyager Digital and a $250 million line of credit to BlockFi.The rescues prompted declarations that Bankman-Fried was crypto's lender of last resort. Anthony Scaramucci even anointed him as <a href="https://www.bloomberg.com/news/articles/2022-06-21/bankman-fried-doles-out-credit-lines-to-stem-crypto-contagion?utm_content=crypto&amp;utm_source=twitter&amp;utm_campaign=socialflow-organic&amp;utm_medium=social#xj4y7vzkg">"the new John Pierpont Morgan,"</a> whose bailouts of the US financial system more than 100 years ago helped give rise to the Federal Reserve.But it wasn't the first time Bankman-Fried came to the rescue. Last August, FTX extended Japanese crypto exchange Liquid Group a $120 million loan after it suffered a $100 million hack.In essence, Bankman-Fried has emerged as central banker-like figure for the crypto market at a time when <keyword id="12068706" type="UNKNOWN" weightage="60" keywordseo="digital-assets" source="Orion">digital assets</keyword> are in freefall. And he may not be alone in the future, analysts say, as continued volatility within the crypto market gives other billionaires an opportunity to jump in. "Yes, Sam was just the first," said Chris Brendler, managing director and senior research analyst at D.A. Davidson. He added that the climate for cryptos mirrors that of the 2008 financial crisis, and that "larger exchanges will be prioritized to limit systemic risk."Meanwhile, Binance founder and CEO Changpeng Zhao has also played the role of crypto savior. In April, Binance led a $150 million fundraising round for Sky Mavis, the parent of play-to-earn game Axie Infinity, which suffered a $625 million hack."We strongly believe Sky Mavis will bring a lot of value and growth for the larger industry and we believe it's necessary to support them as they work hard to resolve the recent incident," Zhao said at the time. More recently, he opined last month on crypto bailouts broadly. In a <a href="https://www.binance.com/en/blog/from-cz/a-note-on-bailouts-and-crypto-leverage-421499824684904048">blog post on June 23</a>, Zhao wrote that given Binance's healthy cash reserves, "We also have a responsibility to help industry players survive and hopefully thrive." To be sure, such rescues may not be totally altruistic. As the head of crypto exchanges, Bankman-Fried and Zhao have an interest in preventing a sector collapse.And Bankman-Fried also may not want to miss a good bargain. On Friday, BlockFi announced a deal for a $400 million credit facility from FTX US, which has an option to buy for up to $240 million."It looks like SBF is playing chess while the rest of the cryptoverse is playing checkers and just waiting for the latest crash to bottom out," said OANDA analyst Edward Moya, before the deal was announced. "A lot of crypto companies are close to insolvency and SBF is is positioning himself to try to take advantage of some very attractive discounts."A takeover of BlockFi would follow an earlier precedent. After extending the lifeline to Liquid, FTX bought the company in February. And more deals are likely to come."[There's] no doubt others will come in to swoop up assets as the situation evolves and not limited to crypto players," said Martha Reyes, head of research at BEQUANT.

Sam Bankman-Fried might be crypto's central banker as bailouts pile up, but others could step in as 'Sam was just the first'

<ul><li><keyword id="46717" type="CITY" weightage="20" keywordseo="IndusInd-Bank">IndusInd Bank</keyword>’s share price rose by over 2% after plans of US-based hedge fund <keyword id="9536386" type="COMPANY" weightage="20" keywordseo="route-one-investment-company">Route One Investment Company</keyword> to double its stake in the financial institution were filed.</li><li>It currently holds 4.95% but wants to up the ante to 10% equity capital. </li><li>The Reserve Bank of India (RBI) and the bank’s board of directors have approved the acquisition.</li></ul>IndusInd bank’s share price jumped by over 2% in afternoon trade on July 24 after it announced that it will be selling over 5% stake to the US-based hedge fund Route One Investment Company (ROIC). <div type="image" title="IndusInd shareprice" msid="77144148" hostid="261" caption="&amp;lt;p&amp;gt;IndusInd&amp;#39;s share price over the last one week&amp;lt;/p&amp;gt;"></div> ROIC already holds 4.95% stake in IndusInd Bank but is now looking to double up with a 10% buy-in. As per the bank’s current market capitalisation, a 10% stake in IndusInd bank is valued at ₹ 3631.5 crore ($485 million). <div type="Article" hostid="261" msid="77128780" title="Axis Bank finalises Max Life Insurance investment and is closer to raising more funds" mstype="2" mssubtype="0"></div> After getting the Reserve Bank of India approval, which dictates that any acquisition of shareholding rights of 5% has to go through them first, IndusInd back also got the approval from the bank’s board of directors. Fundraising to protect the balance sheet IndusInd Bank, like most banks in the private sector, is currently shoring up capital to cushion against the slew of bad loans that may follow once the Reserve Bank of India’s (RBI) moratorium comes to an end on August 31. Big wigs like the State Bank of India (SBI) and ICICI Bank are doing this through <a href="https://www.businessinsider.in/finance/banks/news/just-like-sbi-icici-bank-has-created-a-cash-cushion-in-case-bad-loans-rise/articleshow/77140214.cms">selling their stake</a> in their insurance arms, which includes ICICI Lombard, ICICI Life Insurance, SBI Life and SBI Card. Loan growth is also expected to take a hit as businesses slow down in the wake of the economic downturn. IndusInd Bank is yet to announce the date for revealing its first-quarter earnings. The bank’s moratorium books and credit quality will be key metrics to assess the impact of the lockdown and slowdown in business may hold for the bank. SEE ALSO: <a href="https://www.businessinsider.in/finance/banks/news/just-like-sbi-icici-bank-has-created-a-cash-cushion-in-case-bad-loans-rise/articleshow/77140214.cms">Just like SBI, ICICI Bank has created a cash cushion in case bad loans rise</a> <a href="https://www.businessinsider.in/finance/news/yes-bank-is-looking-to-raise-10000-crore-through-fpo-with-kotak-securities-axis-capital-and-sbi-capital-reportedly-to-be-key-players/articleshow/76153458.cms">Yes Bank is looking to raise ₹10,000 crore through FPO – with Kotak Securities, Axis Capital, and SBI Capital reportedly to be key players</a>

IndusInd Bank's share price jumps over 2% after US investor plans to double its stake

Global online higher education provider <keyword id="2008319" type="PERSON" weightage="20" keywordseo="Upgrad">upGrad</keyword> on Monday became another unicorn from the country, after it announced to close a total of $185 million funding round at a market valuation of $1.2 billion. The company raised fresh funds from Temasek, IFC (International Finance Corporation, a sister organisation of <keyword id="6354424" type="DEFINITION" weightage="20" keywordseo="world-bank">World Bank</keyword>) and IIFL. "We are very focused on our path to being in the top three-five companies globally in edtech and serving the one billion workforce across the age group of 18-60. We are pleased with the investor interest ever since we opened up for a fundraise, and had our maiden raise from Temasek, followed by IFC and IIFL in the last 60 days," said <keyword id="25725" type="PERSON" weightage="20" keywordseo="Ronnie-Screwvala">Ronnie Screwvala</keyword>, Chairperson and Co-founder, upGrad. In April, UpGrad had raised $120 million from Temasek, a global investment company headquartered in Singapore. "We will announce further updates on M&amp;As, and unlocking value as they unfold. Yes, the last value was at $1.2 billion but as I keep saying, we are not a fan of the tag name, unicorn. For us, it is only a means to a much larger goal," he said in a statement. Recent reports suggested that company is in advanced talks for a $400 million fundraise at a valuation of $4 billion. upGrad has earmarked $250 million for mergers and acquisitions (M&amp;As) over the next seven-nine months, as it strengthens non-linear growth strategy. upGrad is set to cross $500 million annual revenue run rate by March 2022 and is looking to raise close to $400 million at a $4 billion valuation. upGrad has built out a strong tech platform and deep immersive learning experience with high touch-points to capture close to 70 per cent of the Indian higher education market for working professionals. Earlier this month, upGrad acquired global firm <keyword id="9947964" type="UNKNOWN" weightage="20" keywordseo="KnowledgeHut">KnowledgeHut</keyword> for an undisclosed sum. KnowledgeHut, an <keyword id="11781040" type="UNKNOWN" weightage="20" keywordseo="upgrad-company">upGrad Company</keyword>, expects to cross Rs 300 crore in revenue next year, 65 per cent of which will be from countries across North America, Middle East and South-East Asia. As per industry estimates, there are 53 unicorns currently in India, with a tentative valuation of Rs. 1.4 <keyword id="69692" type="COMPANY" weightage="20" keywordseo="Lakh">lakh</keyword> crore. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/amara-raja-batteries-invests-in-five-year-old-startup-log-9/articleshow/85174877.cms">Battery maker Amara Raja invests in five-year-old startup Log 9</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/news/amazons-kindle-could-have-been-easily-hacked-through-malicious-e-books/articleshow/85173995.cms">Amazon’s Kindle e-readers could be prone to hacking through malicious e-books</a>

You Searched For "Yes Bank fundraising" and got 13 results

RBI may have to bail out Yes Bank if it fails to raise $2 billion by March 14

Prabhjote Gill

Yes Bank board to consider fundraising plan later this week

PTI

Indian lenders like SBI, Axis Bank and others need $20 billion⁠ in capital— most of it will go into filling up NPA holes

Prabhjote Gill

Yes Bank appoints Anshu Jain-headed Cantor Fitzgerald, 2 domestic entities for fundraising plans

PTI

Yes Bank to delay Q3 results till mid-March, says management 'deeply engaged' in fundraising

PTI

Yes Bank is looking to raise ₹10,000 crore through FPO – with Kotak Securities, Axis Capital, and SBI Capital reportedly to be key players

Rounak Jain

Making efforts to financially strengthen bank further: Yes Bank

PTI

Yes Bank’s white knight SPGP Holdings didn’t have ₹2 crore to bid for Reid & Taylor in Jan 2019

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Yes Bank surges 14% on profit booking

PTI

Yes Bank shares plunge nearly 10 pc amid capital infusion

PTI

Sam Bankman-Fried might be crypto's central banker as bailouts pile up, but others could step in as 'Sam was just the first'

Brian Evans

IndusInd Bank's share price jumps over 2% after US investor plans to double its stake

Prabhjote Gill

Ronnie Screwvala's UpGrad is India's newest entry into the unicorn club as it closes a $185 million funding round

IANS

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