ICICI Bank has acquired 7.97 percent stake in Yes Bank through its Rs 1,000 crore capital infusion in the troubled private sector lender. ICICI Bank has acquired 100 crore equity shares pursuant to the Yes Bank Reconstruction Scheme, 2020 notified by the government under the Banking Regulation Act, 1949. As per the reconstruction scheme, 75 percent of the total investment by the bank would be locked in for three years.
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.
