New Delhi: Private sector Bandhan Bank has announced to invest Rs 300 crore in the troubled Yes Bank under the restructuring plan of the Reserve Bank.
Bandhan Bank, in a notice sent to the stock exchanges late on Friday, said that its board of directors has approved the purchase of 30 crore shares of Yes Bank of Rs 2 each at a premium of Rs eight per share.
In this way Bandhan Bank will invest Rs 300 crore in Yes Bank. ICICI Bank, HDFC Ltd, Axis Bank and Kotak Mahindra Bank also announced on Friday to join SBI-led alliances to invest in Yes Bank.
Both ICICI Bank and HDFC will invest Rs 1,000 crore each in Yes Bank. Axis Bank will invest Rs 600 crore and Kotak Mahindra Bank will invest Rs 500 crore.
Earlier on Thursday, SBI announced an investment of Rs 7,250 crore in Yes Bank. This is more than the Rs 2,450 crore investment announced earlier for the acquisition of 49 per cent stake.
