They were to get approval from credit raisng committee and board and seek RBI approval for it …once they obtain board approval they were allowed to declare name of potential investors .
This is exactly what Mr. Gill said during the on call on 1st Nov …today is 19th November and it seems no progress vhas happened on this until now .
Can it be because of internal issues at board level ?
Is it due to price at which dilution has to happen ( unlikely because this parttoo Mr gill clarified during cal ).
What else can be the reason for such delay in obtaining approval of credit raise committee of 5-6 board members ? In given circumstances
I really have ran out of imagination.
Well, I always doubted Mr. Gill’s real motivation. Here is the sequence of events - every other day a new investor name is floated > erstwhile promoters gets to sell his shares just in time > divergence news out so clean up act was somewhat reversed in the last few months of FY19. I think raising funds is becoming another smoke screen. Retail investors need to be cautious here. It might crush portfolios during the next crack in the market.
Disc.- No interest
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There was some discussion on MSCI rejig few weeks back when YES was moved from one basket to other by MSCI. Following article may throw some light on such actions (although its NOT the only reason of price movement, spike or downfall)
This is a really good article about Rana Kapoor and his way of aggressive banking:
https://www.outlookbusiness.com/the-big-story/lead-story/what-went-wrong-at-rana-kapoors-yes-bank-5446
Fundraising meeting scheduled for this Friday.
1f0b0a3b-4f40-4169-8534-3cfa25dc9716.pdf (379.2 KB)
Highest delivery in last 1 year today in Yes Bank before fund raising announcement.
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Do any one know for which ADAG colateral, Yes Bank is selling Reliance Capital Shares. MCA website doesn’t show any loans for Reliance Capital?
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Let’s see how much they raise and at what valuations. Since there is ample money on the table, I hope they ask for a pre-money valuation of at least 3 billion USD which means about 80 Rs per share. At that price, I don’t mind if they dilute 33% (raise 50%) which will get them 1.5 billion USD or about 10,500 Crores.
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I also see an inverse Head and Shoulder pattern developing on charts which gives a possible target of 100-110. Edelweiss has already given a target of 101 in their latest report.
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Outcome of the Board Meeting held on November 29, 2019
https://www.bseindia.com/xml-data/corpfiling/AttachLive/0b9f1b47-d3b2-4944-94bd-a79083c91e50.pdf
Point #2 restricts individual allotment to 25% of total equity. Considering this means total expanded capital post-preferential issue, then if at all RBI allows them, max individual subscription will be $ 1.1 billion, at current market rate. (I guess normal cap is 15% as per RBI)
So 1.5 billion USD is a decent target, by all measures, indeed.
It also seems to follow SEBI norms for issue, so it depends on Mr Market how much the final price is, but 80 seems a very good target if they just use X week average of pre-issue price.
RJ strikes again 
just putting up 1.6% of their estimated net worth.
Total RJ investment, incl. the bulk lot previously (if not sold off), makes it 2.3%.
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I think there are raising it a 78
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As at September 2019, gnpa was 17.1K Cr. Net was I think 9.1k cr.
The capital infusion of $2Bn goes into replenishing the NPAs. Only after that starts rewarding these big shareholders. Plus therz unaccounted NPAs being the RBI divergence.
Where’s the investment case? Of course the stock might double on the back of the capital infusion news, especially due to the names involved.
The details of top 2 investors are not that promising in this article.
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100 seems to be the FnO number also.
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YES Bank investors SPGP Holdings, Erwin Braich confident of RBI nod, commit $3 billion investment in India. Follow the link to know more http://www.cnbctv18.com/finance/yes-bank-investors-spgp-holdings-erwin-braich-confident-of-rbi-nod-commit-3-billion-investment-in-india-4793381.htm
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