YES Bank may sell stake to Microsoft: Report

Yes-Bank

The shares of private sector lender Yes Bank went up by more than 9 percent after a report stated that Microsoft is likely to be one among three investors, in discussion for buying a stake in Yes Bank.

Yes-Bank

The report came into light after an Economic Times report suggesting that equity firms TPG, The Carlyle Group and Farallon Capital are looking forward to buying large strategic stakes in YES Bank.

A Reuters report quoting Mint says that the bank is in discussion with Microsoft and two other tech firms for a probable stake sale.

The discussion pertaining to the possible sale of stake began three weeks ago. The report Reuters as quoted by Mint citing that bank selling as much as 15 percent through a fresh equity issue. It quoted two people aware of the discussions.

The stake sale may help the lender is collecting Rs 2,000 crore, the English daily said.

The bank’s chief executive officer, Ravneet Gill, had said last week that the lender is in discussion with private equity firms, strategic investors and family offices to raise additional capital.

The bank on Monday filed a complaint against the fake news circulation indication the lender’s weak financial condition.

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