YES Bank’s Board Clears Rs 10,000 Crore Fundraising Plan

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YES Bank’s board has approved fund raising of up to Rs 10,000 crore

Private lender YES Bank’s board has approved raising funds of up to Rs 10,000 crore, it informed in a regulatory filing.

“The board of directors of Yes Bank in its meeting held on December 21, 2021, inter alia, have considered and approved raising of funds by issue of equity shares, depository receipts, convertible bonds, debentures, warrants and any other equity-linked securities, through permissible modes, subject to necessary approvals from shareholders/ regulators, as applicable for an amount up to Rs 10,000 crores,” the filing read.

YES Bank further informed that subsequently it will be seeking approval from its shareholders, which in effect would result in seeking an extension on the current shareholder approval that is set to expire on February 28, 2022.

The YES Bank board had earlier in June 2021 given its nod to raise another Rs 10,000 crore through debt securities issuance.

Author: desi123

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