Yes Bank faces QIP challenge

摘要

A surprise fourth-quarter loss has thrown yes bank's plan to raise as much as US$lbn of capital into disarray after its shares slumped by close to 30%. The fast-growing Indian private sector lender began meeting potential investors early last month ahead of the expected fundraising and later hired Bank of America Merrill Lynch, CLSA, Deutsche Bank, JM Financial and Motilal Oswal. The banks are working on a qualified institutional placement expected to raise a first tranche of US$600m-$700m.