(Photo: Mint)
(Photo: Mint)

Yes Bank to declare Q3 numbers by 14 March; gets EoIs from JC Flowers, Tilden Park

  • The lender says it's currently engaged in raising capital
  • Yes Bank says it has received non-binding expressions of interest from several prominent investors like JC Flowers, Tilden Park, OHA (UK) LLP (part of Oak Hill Advisors), Silver Point Capital

Yes Bank on Wednesday said there will be a delay in announcement of December quarter results and that they will be declared on or before 14 March. This exceeds the 45-day period from the end of the relevant quarter as stipulated under Regulation 33 of the Sebi Regulations, 2015.

In its regulatory filing, the cash-starved lender said it is currently engaged in raising capital with the "fullest attention" and has received non-binding expressions of interest from several prominent investors like JC Flowers, Tilden Park Capital Management, OHA (UK) LLP (part of Oak Hill Advisors), Silver Point Capital.

"The Bank and its financial advisors are currently in discussions with these investors on the commercial terms," Yes Bank told stock exchanges.

Yes Bank recently received shareholders' approval to increase authorised share capital of the bank to 1,100 crore from 800 crore.

At the Extraordinary General Meeting, the cash-starved private lender also received shareholders' nod to raise up to 10,000 crore via issuance of equity shares or other convertible securities.

Also, Yes Bank recently appointed Anshu Jain-headed global investment bank Cantor Fitzgerald and two domestic entities for its fundraising plans to raise $2 billion.

Other merchant bankers appointed by the capital-starved lender include IDFC Securities and Ambit Capital.

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