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YES Bank receives binding offer for $1.2 billion from global investor; stock surges over 20%

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Private sector lender YES Bank on Thursday said it received a binding offer for a stake purchase in the bank from a global investor. “The bank would like to inform that it has now received a binding offer from a global investor for an investment of $1.2 billion in the bank through fresh issuance of equity shares,” it said in a release. The board is likely to consider the offer along with other proposals as well as results on November 1.

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