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Mumbai, Feb. 5 Yes Bank today announced that its board has approved a proposal to raise funds through the Qualified Institutional Placement route.

The bank will issue 2 crore equity shares in one or more tranches, it said in a notice to the BSE.

An EGM will be held March 10 to consider the proposal, the BSE notice said.

On Tuesday, Yes Bank shares closed at Rs 257.4 on the BSE, down 0.25 per cent from the previous close of Rs 258.05.

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