Conditional approval from RBI received for stake sale. 9.99% each to both the PE firms.
This news is a shocker. Though I feel it is not possible now for yesbank to accept cerberus as their ARC but this only shows the urge to buy the stressed pool of yesbank.
This shows that the ARC sees that they can make money out of the stressed pool and if the ARC can make money out of this than the beneficiary will be yesbank.
To sum up yesbank situation as of today I would say that.
They have all the ingredients( money, PE firms, ARC sale etc), They have a good cook( prashanth kumar and team) the judges are lenient in their markings( industry tailwind) they only thing they need to do is cook and make a good dish.
Good time ahead for this bank.
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