Yes Bank eyeing to raise $1-billion through share sale: Report

Yes Bank is set to launch a $1-billion share sale to institutional investors in what would be the biggest such exercise this year to support its expansion and take advantage of an expected economic revival in India.

Goldman Sachs and Morgan Stanley have been mandated as lead bankers to the issue, which is expected to be launched within 30 days. Motilal Oswal Securities has also been mandated for the qualified institutional placement (QIP), which will see a stake dilution of 12-14 percent of the promoter holding, which is currently 21.88 percent of the total.

Yes Bank, India’s fifth largest private sector bank has a pan India presence across all 29 states and 7 Union Territories of India, headquartered in the Lower Parel Innovation District (LPID) of Mumbai.