<p class="title">Mortgage lender HDFC Ltd will invest Rs 1,000 crore into cash-strapped Yes Bank for an equity stake as per the RBI-mandated reconstruction scheme for the troubled lender.</p>.<p class="bodytext">"The Corporation is investing in 100 crore equity shares of Rs 2 each of Yes Bank for a consideration of Rs 10 per share (including Rs 8 premium) for an aggregate consideration of Rs 1,000 crore," HDFC Ltd said in a regulatory filing.</p>.<p class="bodytext">This investment is likely to result in the Corporation (Housing Development Finance Corporation) holding in excess of 5 per cent shareholding in Yes Bank, with the final shareholding to be determined based on the final Scheme of Reconstruction and share issuance thereunder, it said.</p>.<p class="bodytext">As per the Scheme of Reconstruction, 75 per cent of the total investment by the Corporation would be locked in for three years.</p>.<p class="bodytext">HDFC said the investment deal is to happen for a cash consideration and is expected to be completed by March 31, 2020.</p>.<p class="bodytext">As per the RBI-approved reconstruction plan for Yes Bank, the country's largest lender SBI will pick up 49 per cent stake in the cash-strapped private sector lender by infusing Rs 7,250 crore.</p>.<p class="bodytext">SBI will have to maintain at least 26 per cent shareholding for three years.</p>.<p class="bodytext">Among other investors who informed about the capital infusion on Friday, peers ICICI Bank and Axis Bank said they will infuse Rs 1,000 crore and Rs 600 crore, respectively.</p>.<p class="bodytext">Finance Minister Nirmala Sitharaman on Friday said the reconstruction scheme keeps at its core the protection of depositors' interest, providing stability to Yes Bank and keeping a stable financial environment and banking system.</p>.<p class="bodytext">The RBI superseded Yes Bank's board on March 5 and put the lender under a moratorium, restricting withdrawals to Rs 50,000 per account till April 3 due to the precarious financial condition and its inability to raise the much-needed capital which it had been trying for over one year under its new MD & CEO Ravneet Singh Gill.</p>.<p class="bodytext">Sitharaman said the moratorium on the bank will be lifted within 3 days of notification of the reconstruction scheme.</p>.<p class="bodytext">Shares of HDFC closed at Rs 2,068.50 on the BSE, up 10.33 per cent from the previous close.</p>
<p class="title">Mortgage lender HDFC Ltd will invest Rs 1,000 crore into cash-strapped Yes Bank for an equity stake as per the RBI-mandated reconstruction scheme for the troubled lender.</p>.<p class="bodytext">"The Corporation is investing in 100 crore equity shares of Rs 2 each of Yes Bank for a consideration of Rs 10 per share (including Rs 8 premium) for an aggregate consideration of Rs 1,000 crore," HDFC Ltd said in a regulatory filing.</p>.<p class="bodytext">This investment is likely to result in the Corporation (Housing Development Finance Corporation) holding in excess of 5 per cent shareholding in Yes Bank, with the final shareholding to be determined based on the final Scheme of Reconstruction and share issuance thereunder, it said.</p>.<p class="bodytext">As per the Scheme of Reconstruction, 75 per cent of the total investment by the Corporation would be locked in for three years.</p>.<p class="bodytext">HDFC said the investment deal is to happen for a cash consideration and is expected to be completed by March 31, 2020.</p>.<p class="bodytext">As per the RBI-approved reconstruction plan for Yes Bank, the country's largest lender SBI will pick up 49 per cent stake in the cash-strapped private sector lender by infusing Rs 7,250 crore.</p>.<p class="bodytext">SBI will have to maintain at least 26 per cent shareholding for three years.</p>.<p class="bodytext">Among other investors who informed about the capital infusion on Friday, peers ICICI Bank and Axis Bank said they will infuse Rs 1,000 crore and Rs 600 crore, respectively.</p>.<p class="bodytext">Finance Minister Nirmala Sitharaman on Friday said the reconstruction scheme keeps at its core the protection of depositors' interest, providing stability to Yes Bank and keeping a stable financial environment and banking system.</p>.<p class="bodytext">The RBI superseded Yes Bank's board on March 5 and put the lender under a moratorium, restricting withdrawals to Rs 50,000 per account till April 3 due to the precarious financial condition and its inability to raise the much-needed capital which it had been trying for over one year under its new MD & CEO Ravneet Singh Gill.</p>.<p class="bodytext">Sitharaman said the moratorium on the bank will be lifted within 3 days of notification of the reconstruction scheme.</p>.<p class="bodytext">Shares of HDFC closed at Rs 2,068.50 on the BSE, up 10.33 per cent from the previous close.</p>