NEW DELHI: Shares of up more than 9 percent in Monday’s trading after a report said Microsoft is one of three investors in talks for a stake in YES Bank.
The report came amid an ET report suggesting global private equity players — TPG, The Carlyle Group and Farallon Capital — are looking to buy large strategic stakes in YES Bank.
A Reuters report citing Mint suggested the bank is in talks with Microsoft and two other tech companies over a possible share sale. The lender’s credit is under significant exposure to ailing companies.
Talks started three weeks ago and the bank could sell up to 15% through a new equity offering, Reuters quoted Mint, citing two people who were aware of the discussions.
The sale of the stake could net the lender Rs 2,000 crore, the newspaper said.
Earlier, ET reported that private equity funds TPG, The Carlyle Group and Farallon Capital are also seeking a stake in the company. Discussions have progressed significantly in recent days and could lead to one or more private equity firms taking a significant stake in the bank, providing the growth capital the lender needs to compete in the highest tier of Indian banking, reported ET.
The bank’s chief executive officer, Ravneet Gill, had said last week that the lender was in talks with private equity firms, strategic investors and family offices to raise additional capital.
The lender’s shares closed 8.19% higher at Rs 45.60 on BSE.
This post Yes Bank Share Price: YES Bank in talks with Microsoft to sell stock; stock rises 9%
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