As per some sources, Canadian industrialist and philanthropist Erwin Singh Braich has made $1.2 billion bid for Yes bank.
Erwin Singh Braich is Industrialist and Philanthropist and Canada’s First Sikh Billionaire and Trustee, Managing Director & CEO of Braich Group of Companies and Trusts.
However, it is unlikely for RBI to allow any individual to have over 15% voting power in a Bank.
Earlier this month, Yes Bank CEO Ravneet Gill told in an exclusive interview that the bank had received bids worth $3 billion from eight investors.
Now, lets wait how the different bids received by Yes bank will be proceeded, in addition HDFC mutual fund and Falcon & Discovery have also shown interest in Yes Bank.