Yes Bank to delay Q3 results till mid-March, says management 'deeply engaged' in fundraising
Troubled lender Yes Bank on Wednesday said the financial results for the third quarter ended December 2019 will be delayed and is expected by mid-March as the management is "deeply engaged" in fundraising exercise.
"As you are aware, the bank is currently engaged in capital raising. In this regard, we wish to disclose that we have received non-binding expressions of interest from several prominent investors.
"Given that the current capital-raising process has the bank's fullest attention, it would like to inform the exchanges that it will publish its unaudited financial results for the quarter and nine-month period ending December 31, 2019, on or before March 14, 2020," it said in a regulatory filing.
Yes Bank said it has received non-binding expressions of interest from companies including JC Flowers & Co. LLC; Tilden Park Capital Management LP; OHA (UK) LLP (part of Oak Hill Advisors); and Silver Point Capital.
"The bank and its financial advisors are currently in discussions ...