Yes Bank shares rallied nearly 11 percent intraday on July 16 after a media report indicated that private equity firms showed interest for a major stake in the private sector lender.
"US-based private equity investor made an offer to acquire worth $850 million stake in the bank, the term sheet offer for which was made over the weekend," The Economic Times said quoting unnamed sources.
"There are three more PE players in the consortium, two US-based and two domestic. The consortium leader may pick a 10 percent stake in the bank, while the rest may together pick another 10 percent," the report added.
The announcement might come after the bank's June quarter earnings, due on July 17, are released.
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