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Business News/ Companies / Yes Bank plans to raise Rs16,500 crore
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Yes Bank plans to raise Rs16,500 crore

Yes Bank seeks approval for borrowing or raising funds by issue of debt securities up to `10,000 crore to eligible investors on private placement basis

Yes Bank proposes to raise additional capital aggregating up to $1 billion (about `6,500 crore) by way of placement of shares through QIP and other instruments. Photo: BloombergPremium
Yes Bank proposes to raise additional capital aggregating up to $1 billion (about `6,500 crore) by way of placement of shares through QIP and other instruments. Photo: Bloomberg

New Delhi: Private sector lender Yes Bank will seek shareholders approval for raising about 16,500 crore through issue of debt securities as well as equity capital in one or more tranches.

The annual general meeting of the bank will be held on 7 June, Yes Bank said in a statement on Tuesday.

The bank proposes to seek approval for borrowing or raising funds in Indian or foreign currency by issue of debt securities up to 10,000 crore to eligible investors on private placement basis, it said.

The proposed fund would be raised in one or more tranches in domestic and or overseas market, as per the structure and within the limits permitted by the RBI and other regulatory authorities, it said.

These would form part of the overall borrowing limits approved by shareholders of 50,000 crore, it further said.

Besides, the bank proposes to raise additional capital aggregating up to $1 billion (about 6,500 crore) by way of placement of shares through Qualified Institutions Placement (QIP) and/or private placement in international markets through ADRs/ GDRs, it said.

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Published: 10 May 2016, 11:37 PM IST
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