Yes Bank's rescue math: SBI Cards share sale can fund the revival

Lender mopped up Rs 2,800 crore from the share sale

The windfall that State Bank of India earned from the initial public offer (IPO) of SBI Cards & Payment Systems would prove handy in its proposed investment in YES Bank.

According to the government draft restructuring plan for YES Bank, the country’s largest lender will pick up a 49 per cent stake in the reconstituted Yes Bank and infuse Rs 2,450 crore in lieu of its stake.

The reconstituted YES Bank will have authorised capital of Rs 5,000 crore divided in 25 billion shares with face value of Rs 2 each. In comparison, currently, YES Bank has paid-up equity capital