With this, the telcos will have to together pay an estimated Rs 1.47 trillion in AGR dues that include penalties and interest on penalties by January 23.
The Baseline Credit Assessment was also downgraded to 'Caa2' from 'B3'
The bank has asked its customers not to pay heed to rumours about its financial health
There had been offers from Erwin Singh Braich, Citax Holdings and Citax Investment Group
YES Bank board has rejected $1.2 billion offer by Erwin Singh Braich and SPGP Holdings. At the same time, the bank's board has approved fund raising of up to Rs 10,000 crore
The CEO initially did not want to disclose to the board the name of the investor who had given binding offers, Uttam Prakash Agarwal's letter alleged
This is a remarkable scale down by the bank, which urgently needs capital, but has failed to get so
The bank also said it would not proceed with a $1.2 billion offer from Canadian investor Erwin Singh Braich and SPGP Holdings announced earlier
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YES Bank said it would discuss and consider raising of funds by issue of equity shares or depository receipts/ convertible bonds/debentures or any other equity-linked securities.
YES Bank said it would discuss and consider raising of funds by issue equity shares or depository receipts/ convertible bonds/debentures or any other equity-linked securities
With 2019 drawing to a close, Business Standard looks at the biggest news developments from the world of business that shaped the year
10 promoters entered the billionaire list in 2019; Anil Ambani, Subhash Chandra among big names who left the club
Subsidiary Sical Logistics is eyeing a pact with institutions soon to raise debt capital
The companies that have seen sharp erosion of market wealth include YES Bank, Indiabulls Housing Finance, Zee Entertainment, Vodafone Idea, and Bharat Heavy Electricals
The companies have inked a memorandum of understanding (MoU) regarding the partnership
YES Bank climbed 10 per cent to Rs 53.50 from its early morning low of Rs 48.50 on the BSE.
In a similar move, ICRA has downgraded rating on YES Bank's tier-II bonds from "A+" to "A"
The stock of the private sector lender slipped 3.7 per cent to Rs 45 after rating agency India Ratings and Research (Ind-Ra) downgraded its long-term issuer rating to 'IND A' from 'IND A+'
Edited excerpts from a discussion at the Business Standard Banking Round Table held in Mumbai