Bank Crisis: ICICI Bank to invest Rs 1,000 cr in Yes Bank

ICICI Bank on Friday said its board has approved investing Rs 1,000 crore in Yes Bank.

Post Published By: DN Bureau

Updated : 13 March 2020, 5:30 PM IST

Bank Crisis: ICICI Bank to invest Rs 1,000 cr in Yes Bank

New Delhi: ICICI Bank on Friday said its board has approved investing Rs 1,000 crore in Yes Bank.

Also Read: SBI gets approval to invest Rs 7,250 cr in Yes Bank

ICICI Bank: Our board at its meeting yesterday has approved for an equity investment of up to Rs 10 billion in equity shares of #YesBank, comprising up to 1 billion equity shares at a price of Rs 10 per share, under the proposed scheme of reconstruction of the bank. pic.twitter.com/ZtZJBzRTHk

— ANI (@ANI) March 13, 2020

"This investment is likely to result in ICICI Bank Ltd holding in excess of 5 per cent shareholding in Yes Bank," the lender said in a regulatory filing. (PTI)