Yes Bank is planning to issue American depository receipts (ADR) under its $1-billion capital infusion plan next fiscal and stressed that the court order in a case involving its promoters will not impact these plans. It will be company’s first such issue. It helps the profile of the bank and more diverse investors can come in.
The bank has its shareholders’ nod to raise up to $1 billion either through an ADR or a qualified institutional placement (QIP) issue.