Yes Bank Ltd. is likely to reject an offer that made up more than half of its planned $2 billion capital raising, and is talking to institutional investors about making up the shortfall, according to a person familiar with the matter.
At a meeting on Tuesday, the board is expected to reject an offer from Canada’s Erwin Singh Braich and Hong Kong-based SPGP Holdings to contribute $1.2 billion toward the fund raising, according to the person, who asked not to be identified because the discussions are private.
