HomeBusinessYES Bank's Board Clears Rs 10,000 Crore Fundraising Plan

YES Bank’s Board Clears Rs 10,000 Crore Fundraising Plan

YES Bank's Board Clears Rs 10,000 Crore Fundraising Plan

YES Bank’s board has authorised fund elevating of as much as Rs 10,000 crore

Private lender YES Bank’s board has authorised elevating funds of as much as Rs 10,000 crore, it knowledgeable in a regulatory submitting.

“The board of directors of Yes Bank in its meeting held on December 21, 2021, inter alia, have considered and approved raising of funds by issue of equity shares, depository receipts, convertible bonds, debentures, warrants and any other equity-linked securities, through permissible modes, subject to necessary approvals from shareholders/ regulators, as applicable for an amount up to Rs 10,000 crores,” the submitting learn.

YES Bank additional knowledgeable that subsequently will probably be searching for approval from its shareholders, which in impact would lead to searching for an extension on the present shareholder approval that’s set to run out on February 28, 2022.

The YES Bank board had earlier in June 2021 given its nod to lift one other Rs 10,000 crore by means of debt securities issuance.

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