Yes Bank board gives approval to $2 billion fund-raiser plan
Shortpedia
Content Team
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The board of Mumbai-based Yes Bank has agreed to raise nearly $2 billion in a share sale with a Canadian billionaire Erwin Singh Braich buying more than half of it or $1.2 billion. The rest of the shares will be bought by private equity investors and it will help the bank in overcoming its financial difficulties. The binding term sheet for the deal with Braich has been hence extended to December 31.
