INSUBCONTINENT EXCLUSIVE:
NEW DELHI: Shares of YES Bank fell 8 per cent in Wednesday's session after the lender denied reports suggesting active talks between the
bank and Microsoft Corporation and two other tech firms for a possible stake acquisition.
YES Bank in a regulatory filing said it is “not
aware of the source, which resulted in the news item and as a matter of policy, the bank would not like to comment on such article.”
The
private lender clarified that it continues to explore various means of raising capital and funds through the issuance of securities to a
diverse set of investors, in order to meet its business I regulatory requirements.
The stock was down 8 per cent at Rs 41.90 in the early
trade.
On Monday, a media report claimed that Microsoft is among three investors, which are in talks for a stake in YES Bank.
Mint report
suggested that the bank is in talks with Microsoft and two other tech firms for a possible stake sale
The stake sale may fetch the lender Rs 2,000 crore, the paper said.
The talks began three weeks ago and could see the bank selling as much
as 15 per cent through a fresh equity issue, Mint said citing two people aware of the discussions.
The report emerged amid an ET report
suggesting that global private equity players — TPG, The Carlyle Group and Farallon Capital — are seeking to buy large strategic stakes
in YES Bank.
The lender has substantial exposure to ailing companies.
