IDFC First Bank plans to invest Rs 250 crore in crisis-hit YES Bank

The authorised capital of Yes Bank has been increased to Rs 6,200 crore, Finance Minister Nirmala Sitharaman said on Friday.

IDFC First Bank on Sunday said it would make an equity investment of Rs 250 crore in beleaguered YES Bank, to acquire 250 million equity shares.

“...duly authorised committee of the Board of Directors of IDFC FIRST Bank had at its meeting held on March 14 accorded approval for an equity investment of up to Rs 250 crore comprising up to 250 million equity shares at a price of Rs 10 each and face value of Rs 2 each, under the proposed Scheme of Reconstruction of YES Bank under the Banking Regulation Act, 1949, subject to regulatory and government