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Thursday, April 18, 2013

YES Bank plans to raise $500 m

YES Bank Ltd has proposed to raise up to $500 million in one or more tranches through multiple options including Qualified Institutional Placement.

In a filing with the stock exchanges, the bank said its board of directors on April 17 empowered the capital raising committee, a sub-committee of the board, to raise up to $500 million in one or more tranches.

The funds will be raised through QIP or any other international offering like Global Depository Receipts (GDRs)/American Depository Receipts (ADRs), ordinary shares through (Depository Receipt Mechanism) Scheme 1993, Follow on Public Issue or by any other appropriate mode as decided by the committee.

Source: thehindubusinessline


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