Money & Banking

Yes Bank board to meet on August 30 for further fund raising

Our Bureau Mumbai | Updated on August 28, 2019

File photo   -  Bloomberg

It had earlier this month raised ₹ 1,930 crore through QIP.

The Board of Directors of Yes Bank will be meeting on August 30 to approve a proposal for further fund raising.

" consider and approve raising of funds by way of issuance of equity shares including but not limited through preferential issue and/ or Qualified Institutions Placement (QIP)/ Global Depository Receipts (GDRs)/ American Depository Receipts (ADRs)/ Foreign Currency Convertible Bonds (FCCBs)/ fully or partially convertible debentures/ convertible Preference shares/ any other financial instruments or securities convertible into Equity Shares or any other instrument on private placement basis," Yes Bank said in a regulatory filing on Tuesday.

The private sector lender raised ₹ 1,930 crore through QIP earlier this month.

According to market sources, it could potentially look to raise another $1 billion with the exercise taking place in the current quarter.

Published on August 28, 2019

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