Yes Bank to raise $1 billion via share sale
Yes Bank said it seeks to raise $1 billion by selling shares by way of a public issue, preferential issue or issuance of ADR and GDR
New Delhi: Private sector lender Yes Bank on Wednesday said it seeks to raise $1 billion (about Rs6,700 crore) by selling shares by way of a public issue, preferential issue or issuance of ADR and GDR.
The decision to this effect would be taken in annual general meeting of 12 June, Yes Bank said in regulatory filing on stock exchanges.
The fund would be raised through “qualified institutions placement, private placement or a combination thereof of equity shares or through an issuance of Global Depository Receipts (GDRs), American Depository Receipts (ADRs) and Foreign Currency Convertible Bonds (‘FCCBs’)...,” it said.
Besides, the bank also proposes to raise funds in Indian or foreign currency by issue of debt securities including but not limited to non-convertible debentures, MTN (MediumTerm Notes), bonds including bonds forming part of Tier I/Tier II capital up to Rs30,000 crore.
Yes Bank reported a 29% surge in March quarter net at Rs1,179 crore bolstered by high loan growth and a dip in dud loans which boosted its core interest income.
For the fiscal year 2018-19, its net profit rose 26.9% to Rs4,224 crore.
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