yes bank: Yes Bank plans to raise funds via various instruments; to seek shareholders’ nod next week

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NEW DELHI: Yes Bank plans to raise funds through various instruments, including equity and bonds, and it will seek shareholders’ approval in a meeting of the board of directors next week.
The bank has, however, not specified how much money it intends to raise.
A meeting of the board of directors of Yes Bank is scheduled to be held on December 21 to consider seeking shareholders’ approval, the bank said in a regulatory filing on Thursday.
Yes Bank said the board meeting will seek shareholders’ nod for raising funds by the issue of equity shares or depository receipts, convertible bonds or debentures, warrants or any other equity-linked securities.
The lender said the existing approval of the shareholders to raise capital is valid till February 28, 2022.
In March this year, the bank’s shareholders had approved with a majority for a Rs 10,000-crore fund mop-up by way of equity or other securities.
Shares of Yes Bank on Thursday closed at Rs 13.40 apiece on the BSE, down 2.69 per cent from the previous close.

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