Private equity group Advent International is evaluating a 75 billion rupee ($1.00 billion) investment in India’s Yes Bank to further capitalise it, the Economic Times daily reported on Friday, sending shares of the private-sector lender by up to 3%.
A 10% stake in the bank would be valued at 33.64 billion rupees, the report said, adding that the proposed investment could be through a preferential allotment.
Later, State Bank of India and several private lenders stepped in to infuse money into the lender and bail it out to address systemic risk concerns.
Read more: Reuters
