HDFC Mutual Fund has evinced interest in the beleaguered YES Bank, in addition to Falcon & Discovery and Canada-based Erwin Singh Braich, ETNOW reported on Friday quoting sources.
On November 3, YES Bank chief executive Ravneet Gill told reporters that the private sector lender was aiming to finish a $1.2 billion equity raising exercise by December and is willing to give new investors a seat on the board.
The bank, which claimed it is was in discussion with potential suitors willing to pump in up to $3 billion collectively, said it could raise the money either through the North American family office, which made a binding offer to pump $1.2 billion, or through a combination of investors.
Early indications from RBI are unfavourable for Erwin Singh Braich’s $1.2 billion bid.
Sources said RBI would not make an exception for an individual to have over 15 per cent of the voting right in the bank.
