Home / Finance / News / Foreign portfolio investors to pick up $300-million stake in YES Bank

Foreign portfolio investors to pick up $300-million stake in YES Bank

The FPIs are in advanced talks with an Indian bank to act as a custodian.

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The US-based new investors have indicated to the management that they would like the bank to clean up its books first so they can invest in the bank in the follow-on offer.

Dev Chatterjee Mumbai

3 min read Last Updated : Jun 11 2020 | 11:03 PM IST

A group of US-based foreign portfolio investors (FPIs) is looking to pick up a stake worth $300 million in YES Bank by investing in its forthcoming share sale via the structured, unsponsored American Depository Receipts (ADR) route.

The FPIs are in advanced talks with an Indian bank to act as a custodian.

In October last year, the Securities and Exchange Board of India (Sebi) came out with a detailed framework for issuing depository receipts by Indian listed companies. The framework allows local firms to access foreign funds with conditions attached.

Sponsored ADRs are those that a bank issues on behalf of a foreign

Topics : YES Bank Foreign Portfolio Investors foreign portfolio investments Indian Banks Indian banking sector private sector banks Securities and Exchange Board of India Sebi ADR Reserve Bank of India RBI State Bank of India SBI IDFC First Federal Bank ICICI Bank Bandhan Bank Kotak Mahindra Bank Axis Bank HDFC Bank

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