ICICI Bank has received approval from its board for an investment of Rs 1,000 crore in Yes Bank via equity route. The bank will acquire 100 crore equity shares of Yes Bank at Rs 10 per share, including a premium of Rs 8 per share.
ICICI Bank is India’s largest private sector bank by consolidated assets. ICICI Bank’s subsidiaries include India’s leading private sector insurance, asset management and securities brokerage companies, and among the country’s largest private equity firms.