Lawstreet Journal

RBI gives nod to LIC and Tilden Park to invest 9.9% in Yes Bank

Lawstreet Journal 9 Jul 2020 9:54pm

Image courtesy: Lawstreet Journal Business RBI gives nod to LIC and Tilden Park to invest 9.9% in Yes Bank

Tilden Park and LIC have received RBI’s approval to make an investment of 9.9% in the private lender Yes Bank.

The bank was in talks with Tilden Park for a further public offer (FPO).

State Bank of India (SBI), on Wednesday (8th July), said its board approved a maximum investment of up to Rs 1,760 crore in Yes bank's FPO.

According to 2 senior officials involved in the matter directly, additional investment in Yes Bank’s FPO by SBI is to comply with the former’s reconstruction scheme terms with respect to the lead investor’s stake. Initially, an investment of 6050 crores was made in the bank by SBI acquiring over 48% stake, in March 2020.

Bank’s capital raising committee approved the fundraising via FPO on Tuesday (7th July).

Continue Reading...

Tagged: Reserve Bank of India  
Disclaimer: SoOLEGAL in Media collaboration with Lawstreet Journal. SoOLEGAL take no responsbility for the content provided by Lawstreet Journal. For any discrepancies Contact Lawstreet Journal.
Did you find this write up useful? YES 0 NO 1
Featured Members view all

New Members view all

×

C2RMTo Know More

Something Awesome Is In The Work

0

DAYS

0

HOURS

0

MINUTES

0

SECONDS

Sign-up and we will notify you of our launch.
We’ll also give some discount for your effort :)

* We won’t use your email for spam, just to notify you of our launch.