Is Yes Bank headed for nationalisation?

Analysts and market watchers have roundly panned the lender’s choice of the relatively-obscure Canadian citizen Erwin Singh Braich, backed by Hong Kong-based fund SPGP. The latter is known for having backed out of the bidding process for Reid & Taylor under the corporate insolvency resolution process (CIRP). The two parties together had offered to invest $1.2 billion – over half of Yes Bank’s planned fundraise of $2 billion.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/34e2eB4