India’s largest lender State Bank of India on Wednesday said its board has approved an investment of up to ₹1,760 crore in the upcoming follow-on public offer (FPO) of Yes Bank.
“Pursuant to the intimation given by Yes Bank Ltd to the stock exchanges on 07 July 2020 on the issue of raising capital, the executive committee of central board (ECCB) of State Bank of India at its meeting held today 8 July 2020 has accorded approval for a maximum investment of up to ₹1,760 crore in the further public offering of Yes Bank Ltd,” SBI said in statement to the stock exchanges.
