Federal Bank on March 14 said it will invested Rs 300 crore in crisis-hit Yes Bank.
Through this, Federal Bank will subscribe to 30 crore Yes Bank's equity shares at a price of Rs 10 each.
In a disclosure to exchanges, Federal Bank said that this was pursuant to Yes Bank's reconstruction scheme proposed by the Reserve Bank of lndia (RBI), and is subject to regulatory approvals and other conditions.
Other private sector entities - ICICI Bank, Axis Bank, Kotak Mahindra Bank, HDFC and Bandhan Bank - have already announced that they will Rs 3,100 crore in total via equity into the crisis-hit Yes Bank.
ICICI Bank and HDFC will invest Rs 1,000 crore each while Axis Bank and Kotak Mahindra Bank will invest Rs 600 crore and Rs 500 crore, respectively.
ICICI Bank and HDFC will each acquire 100 crore equity shares of Yes Bank, while Axis Bank and Kotak Mahindra will buy 60 crore and 50 crore shares, respectively. All the shares will be bought at a value of Rs 10 per share including a premium of Rs 8 per share.
The Board of Directors of Bandhan Bank on March 13 also approved an equity investment of Rs 300 crore in Yes Bank. The lender will purchase 30 crore shares for Rs 10 each.
This came in soon after the Union Cabinet approved RBI's draft restructuring scheme for Yes Bank.
Announcing the Cabinet clearance to the scheme, Finance Minister Nirmala Sitharaman said Yes Bank's authorised capital will be raised to Rs 6,200 crore from Rs 1,100 crore.
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