Crisis-hit Yes Bank has allotted 1,000 crore equity shares to seven private banks and the state-run State Bank of India for a total consideration of Rs 10,000 crore.

IDFC First Bank is the latest to enter the SBI-led rescue team with an investment of Rs 250 crore. Investment by private banks has so far reached Rs 3,950 crore.

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In a regulatory filing, Yes Bank said: “395,00,00,000 equity shares have been issued and allotted to the (private) investors for an aggregate subscription consideration of Rs 39,50,00,00,000, calculated at a share price of Rs 10 per equity share comprising of Rs 2 face value and Rs 8 premium.”

Further, SBI which would hold 49 per cent stake in the cash-strapped lender has been allotted 605 crore shares for Rs 6,050 crore. Under the Reserve Bank-proposed reconstruction scheme for Yes Bank, SBI shall not reduce its holding below 26 per cent before completion of three years from March 14.

SBI, the largest public sector bank in the country, has in fact committed Rs 7,250 crore. On Thursday, it said that its Executive Committee of Central Board (ECCB) has approved the purchase of 725 crore shares in Yes Bank at Rs 10 per share.

Among the private players, ICICI Bank and Housing Development Finance Corporation committed Rs 1,000 crore each. Axis Bank and Kotak Mahindra Bank committed to invest Rs 600 crore and Rs 500 crore respectively.

Both Federal Bank and Bandhan Bank have been allotted shares for Rs 300 crore each as per their commitment and IDFC First Bank has been issued equity shares in the crisis-ridden bank for a consideration of Rs 250 crore.

The private investors including the banks will be mandated to have a lock-in period for 75 per cent of their investment in the bank. The remaining 25 per cent of the shareholding allotted to each investor shall be freely transferable and shall not be subject to any lock-in.

The government on Saturday notified the scheme of reconstruction for cash-strapped Yes Bank Ltd., paving the way for the lender to resume full operations.

The private sector bank has been put under a moratorium by the Reserve Bank of India since March 5 which has restricted deposit withdrawals. Under the terms of the notified scheme, this moratorium will now be lifted at 6 p.m. on March 18.

According to the government notification, Yes Bank’s authorised share capital will be revised upwards from Rs 1,100 crore to Rs 6,200 crore. The number of total equity shares will stand altered to 3,000 crore of Rs 2 each aggregating to Rs 6,000 crore. Authorised preference share capital shall continue to be Rs 200 crore.

The government has also decided to exempt all investors in the Yes Bank from payment of capital gains tax for any deemed profit or gains on account of subscription of shares.

The office of the administrator of Yes Bank shall also stand vacated after seven days from the cessation of moratorium and the new Board will take over the bank.

Prashant Kumar, former SBI CFO, and the current administrator of Yes Bank may take over as Managing Director and CEO of the bank.