YES Bank looks for institutional money, as share prices fall
Days after Moody's and Brickwork rating agencies highlighted YES Bank's weakening financials, placing it on credit watch and downgrading credit respectively, YES Bank's capital requirement challenges again burst out into the open as the Bank launched a QIP issue to raise Rs. 2,000 crore ($285 million). The company is reportedly also set to replace its C-suite management. YES Bank has been meeting with large institutional investors in its fundraising efforts, including Westwood Global, Harris Associates, Farallon Capital, Alchemy Capital and others. Among the meetings was KKR Advisors, who were in the news recently for having reportedly forced CCD's VG Siddhartha into buying back CCD shares from the fund in February 2018. Share price of the bank fell on the QIP news. All YES Bank meeting results on Discover.09-08-2019
