59: Yes Bank gets a second chance at survival
Mark to Market
English - July 18, 2020 07:30 - 5 minutes - 5.21 MBBusiness News News market price finance podcast investing stock market entrepreneurship business business podcast money market share market entrepreneur Homepage Download Apple Podcasts Google Podcasts Overcast Castro Pocket Casts RSS feed
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Yes Banks's rescue mission was led by SBI and together with other banks, they infused a total of Rs 10,000 crore capital into the lender. At that time, it was clear that the money was not enough and Yes Bank would soon need more capital to keep its head above water. Hence, the lender is back to raise money from the market through a follow-on public issue. The FPO has not been a big success but the bank will end up raising much of the money of the Rs 15,000 crore it hopes to get.