Singapore-based DBS Bank said on Saturday that reports claiming that it will acquire a controlling stake in Yes Bank were false.
"The rumours of DBS acquiring a stake in Yes Bank are unfounded and baseless," a DBS spokesperson told news agency IANS.
Meanwhile, Yes Bank also confirmed that the DBS acquisition reports were false.
Earlier, Yes Bank in an exchange filing said that the bank had received strong interest from multiple foreign as well as domestic private equity and strategic investors.
The lender said 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, subject to regulatory approvals and conditions as well as the bank's board and shareholders' approvals.
(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)
Get Breaking news, live coverage, and Latest News from India and around the world on NDTV.com. Catch all the Live TV action on NDTV 24x7 and NDTV India. Like us on Facebook or follow us on Twitter and Instagram for latest news and live news updates.