YES Bank picks IDFC Securities, Cantor Fitzgerald, Ambit to raise $2 bn

Cantor Fitzgerald is led by Anshu Jain, the former co-CEO of Deutsche Bank AG

Yes Bank has picked Cantor Fitzgerald, IDFC Securities and Ambit to help the lender raise as much as $2 billion for bolstering capital buffers, people with knowledge of the matter said.

The bank, staggering under the weight of soured loans, has been plagued by worries about its asset quality and uncertainty about efforts to raise new capital. It’s trying to shore up a core equity capital ratio that’s barely above a regulatory minimum of 8 per cent.

The lender’s shares surged the most since November 27 on Wednesday as investors were encouraged by the move to pick bankers, while its 2023 dollar