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Yes Bank Board To Consider Fundraising Plans On January 22; Stock Ends Flat

In March final 12 months, eight lenders led by SBI had infused over Rs 10,000 crore into Yes Bank

Yes Bank mentioned that it’ll think about a proposal to boost funds at its board assembly scheduled on January 22. The funds could also be raised by monetary devices resembling fairness shares, depository receipts, convertible bonds, debentures and warrants.

“In continuation to our letter dated January 11, 2021, we wish to inform you that the Board of Directors of YES Bank Limited at its meeting scheduled on January 22, 2021, inter alia, to also discuss and consider: raising of funds by issue of equity shares/depository receipts /convertible bonds/debentures/warrants/any other equity-linked securities, through permissible modes subject to necessary shareholders/regulatory approvals, as applicable,” Yes Bank mentioned in a regulatory submitting to the inventory exchanges.

In March final 12 months, eight lenders led by State Bank of India had infused greater than Rs 10,000 crore into Yes Bank, as a part of a rescue deal accredited by the Reserve Bank of India. The financial institution had additionally raised almost Rs 15,000 crore by a follow-on public provide. 

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The shares of Yes Bank edged greater by 0.2 per cent to finish the session at Rs 17.70. The BSE Sensex had ended decrease by 470 factors or 0.96 per cent at Rs 48,564.55 and the NSE Nifty had ended at 14,281.30, down 152.45 factors or 0.06 per cent.

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