Private sector lender Yes Bank on Wednesday said its board has approved raising over Rs 16,500 crore through issue of equity capital as well as debt securities in one or more tranches.
"The Board of Directors...Have approved raising of funds by way of issuance of equity capital up to $1 billion (nearly Rs 6,650 crore) in one or more tranches on such terms and conditions as it may deem fit subject to approval of the shareholders," Yes Bank said in a Bombay Stock Exchange (BSE) filing.
It further said, "The issuance may be by way of qualified institutional placement (QIP) or any other international offering like global depository receipts (GDRs)/American depository receipts (ADRs), or by any other appropriate mode as decided by the Board or Committee thereof."
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The bank added that its board also approved "raising of funds by way of issuance of debt securities including but not limited to non-convertible debentures, Medium Term Notes (MTN), bonds up to Rs 10,000 crore (in INR or FCY) by the Bank, in one or more tranches and/or series, in domestic and /or overseas market..On private placement".
Yes Bank on Wednesday reported 27.42% rise in standalone net profit at Rs 702.11 crore for the fourth quarter (Q4) ended March 2016 as against net profit of Rs 550.99 crore in the corresponding quarter of 2014-15.
At 13:42 hours, the shares of Yes Bank were trading up 0.16% or Rs 1.45 to Rs 912.00 per scrip on the BSE.
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Yes Bank's Q4 net profit up 27% to Rs 702 crore