As was originally discussed, SBI has led a consortium of banks to invest in Yes Bank. ICICI Bank will get a little above 6% stake in Yes Bank for Rs.1,000 crore investment. It will be issued 100 crore equity shares in Yes Bank at Rs.10 per share. For ICICI Bank, the investment needs to look at differently. It is hard to value the company at this juncture but the comfort they have is that SBI holds 49% in the bank and that is the good news for them. SBI has taken a 49% stake in Yes Bank for about Rs.7200 crore so the entire bank gets valued at Rs.15,000 crore. The AT1 bond holders will waive Rs.8,000 crore and other bond holders may also take cuts. That should compensate cost of the purchase. At the end of 3 years, it is likely to turn out to be a good investment.