The private lender YES Bank has proposed to set up an asset reconstruction company (ARC) and invited interest from prospective investors to be a part of the company as the lead investor.

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The prospective investor should have a strong financial capability and should have substantial experience in the distressed asset space, Ernst & Young (EY) said in an expression of interest (EOI) floated on behalf of Yes Bank.

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Foreign institutional investors, foreign portfolio investors, private equity, venture capital funds, FIIs, NBFCs, asset management companies, banks and ARCs can take part to be a lead sponsor of Yes Bank's proposed asset reconstruction company.

The stock on Thursday grew around 1.5 per cent to Rs 12.15 per share, a day’s high level, on the BSE intraday trade today. The stock at around 10:45 am is trading flat at same levels that it ended yesterday, as against 0.27 per cent rise in the S&P BSE Sensex.