Yes Bank has launched a Qualified Institutional Placement (QIP) issue to raise $1 billion, a move that will help the private sector lender expand while bolstering its capital base. The bank has mandated about 10 investment bankers including Goldman Sachs, Motilal Oswal, CLSA, Edelweiss, Religare, HSBC as lead bankers to the issue.
The shareholders of the bank had approved equity fundraising of up to $1 billion at the bank’s annual general meeting held on June 6. The bank had raised $500 million through a similar QIP issue in June 2014.
Yes Bank, India’s fifth largest private sector Bank with a pan India presence across all 29 states and 7 Union Territories of India, headquartered in the Lower Parel Innovation District (LPID) of Mumbai.
