Crisis-hit YES Bank said it will disclose its October-December results by mid-March, at least a month after the deadline, as the private sector lender is in talks with potential investors for a much-needed cash infusion.

For listed companies, regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, calls for publishing quarterly earnings within 45 days from the end of the relevant quarter. Going by the revised date put forth by YES Bank—March 14—it will take up to 74 days from the end of the December quarter.

“As you are aware, the bank is currently engaged in capital raising,” it said in a filing with the exchanges, explaining the reason behind the delay. ” The bank also disclosed that it has received non-binding expressions of interest (EOIs) from several prominent investors, including J.C. Flowers & Co., Tilden Park Capital Management, OHA (U.K.)— part of Oak Hill Advisors, and Silver Point Capital.

“The bank and its financial advisors are currently in discussions with these investors on the commercial terms, including pricing, of their investments which, it may be noted, will be subject to certain conditions and receipt of requisite approvals, including regulatory approvals with respect to the size of the stake to be acquired, as well as necessary dispensations with regard to applicable pricing guidelines,” YES Bank said.

The exchange intimation added that the bank and its management is also working with investment bankers, legal and accounting advisers, investors, and others on due diligence commissioned for potential new investors.

Meanwhile, credit rating agency India Ratings and Research (Ind-Ra) downgraded the bank’s long-term issuer rating to ‘IND A-’ from ‘IND A’, while maintaining it on Rating Watch Negative (RWN).

In its statement, Ind-Ra said that the downgrade reflects the continued delay and inconclusive quantum of the anticipated equity infusion in YES Bank. “Ind-Ra believes this could adversely impact the bank’s franchise and potentially create challenges on asset and liability side,” the rating agency said.

Tilden Park Capital Management

YES Bank’s equity infusion countdown