Yes Bank has received its board’s approval to raise funds by way of issuance of equity capital up to $1 billion in one or more tranches. The board of directors of the bank gave the approval for the same at a meeting held on April 22, 2015. The issuance may be by way of Qualified Institutions 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 Capital Raising Committee.
The bank posted a rise of 28.07% in its net profit at Rs 550.99 crore for the quarter ended March 31, 2015 as compared to Rs 430.21 crore for the same quarter in the previous year. Total income of the bank increased by 22.08% at Rs 3678.83 crore for quarter under review as compared to Rs 3013.57 crore for the quarter ended March 31, 2014.
