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Yes Bank Stock Price: YES Bank In Talks With Microsoft Over Share Sale; Stock up 9%

NEW DELHI: Shares in YES Bank rose more than 9 percent on Monday after a report said Microsoft is among three investors in talks to acquire a stake in YES Bank.

The report comes amid an ET report suggesting that global private equity firms – TPG, The Carlyle Group and Farallon Capital – are looking to acquire large strategic stakes in YES Bank.

A Reuters report citing Mint indicated that the bank is in talks with Microsoft and two other tech companies about a potential stake sale. Lender’s scrip underperformed given significant exposure to struggling companies.

The talks began three weeks ago and could see the bank selling up to 15% through a new share offering, Reuters quoted Mint as saying, citing two people aware of the discussions.

The stake sale could bring the lender Rs 2,000 crore, the newspaper said.

ET previously reported that private equity funds TPG, The Carlyle Group and Farallon Capital are also looking to acquire a stake in the company. Talks have advanced significantly in recent days and could result in one or more private equity firms taking a significant stake in the bank, providing the growth capital the lender needs to compete at the forefront of Indian banking, reported ET.

The bank’s chief executive, Ravneet Gill, said last week that the lender is in talks with private equity firms, strategic investors and family offices to raise additional capital.

The lender’s shares closed 8.19 per cent higher at Rs 45.60 on BSE.

https://economictimes.indiatimes.com/markets/stocks/news/yes-bank-in-talks-with-microsoft-for-stake-sale-stock-climbs-9/articleshow/71477242.cms Yes Bank Stock Price: YES Bank In Talks With Microsoft Over Share Sale; Stock up 9%

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