India: Private lender Yes Bank gets $1.2b binding offer from global investor

Private sector lender Yes Bank today informed stock exchanges that it has received a binding offer from a global investor for an investment of $1.2 billion in the bank through fresh issuance of equity shares. It is subject to regulatory approvals/conditions as well as bank’s board and shareholders approvals, the bank said. Yes Bank shares surged as much as 35% to ₹76.65 after the announcement. The bank however did not disclose the name of the investor.