Business & Investment

Yes Banks are calling for reports that they are seeking a Rs. 12,000 investment in ARC’s “speculative”

Yes The bank called for media reports on Saturday asking for Rs 12,000 from potential investors to speculatively partner with the Asset Reconstruction Company (ARC).

Lenders of private sector responded to the explanation required by the exchange, “Banks are reported by the media referring to banks seeking 12,000 rupees as ARC partners from potential investors. Certain news articles are speculative and have no serious mention. “

Earlier, according to sources, Mint reported that a bank in the process of selecting an ARC partner to transfer some of its bad assets is seeking to raise Rs 12,000 from investors.

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“We are unaware of the source that led to the news item above, and as a policy issue, we do not want to comment on such speculation,” the bank said.

He added that he started the process of partner selection for ARC by calling a public statement of interest. “Currently, the process is underway and is important in this regard and there are no specific decisions that need to be disclosed.”

Last month, the bank’s board approved raising up to 10,000 chlores by issuing shares / depositary receipts / convertible bonds / corporate bonds / warrants / other equity-related securities, subject to the necessary approvals from shareholders and regulators. Did.

At BSE on Friday, bank stocks closed at Rs 14.06, up 0.72%.

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Yes Banks are calling for reports that they are seeking a Rs. 12,000 investment in ARC’s “speculative”

https://www.businesstoday.in/industry/banks/story/yes-bank-calls-report-about-it-seeking-rs-12000-cr-investment-in-arc-speculative-319220-2022-01-15?utm_source=rssfeed Yes Banks are calling for reports that they are seeking a Rs. 12,000 investment in ARC’s “speculative”

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