Yes Bank has received its board’s approval to raise over Rs 16,500 crore through issue of equity capital as well as debt securities in one or more tranches. The company’s board has approved raising of funds by way of issuance of equity capital up to $1 billion (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.
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 Board or Committee thereof.
The private sector lender reported 27.42% rise in standalone net profit at Rs 702.11 crore for the fourth quarter ended March 2016 as against net profit of Rs 550.99 crore in the corresponding quarter of 2014-15.
