Asset reconstruction company on cards, private lender YES Bank invites expression of interest; stock surges 1.5%
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.
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.
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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projectmodak@in.Ey.Com.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.
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