Tilden Park, LIC get RBI's nod to invest 9.9% in Yes Bank

Tilden Park, LIC have received RBI's approval to invest 9.9 percent in private lender Yes Bank, banking sources informed CNBCTV-18.

CNBCTV-18 earlier reported that bank is in talks with Tilden Park for further public offer (FPO).

On Wednesday, State Bank of India (SBI) said it’s board approved a maximum investment of up to Rs 1,760 crore in Yes bank's FPO.

As per two senior officials directly involved in the matter, SBI’s additional investment in YES Bank's FPO is to comply with the latter’s reconstruction scheme terms with respect to the lead investor’s stake. SBI had initially invested Rs 6,050 crore in the bank to acquire over 48 percent stake in March this year.

On Tuesday, bank's capital raising committee had approved fund raising via FPO.

Source: CNBC TV18

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