38.6c New Delhi, India, Friday, March 29, 2024
Business

Yes Bank Gets Shareholders Approval To Raise Upto Rs. 10,000 Crores

By LawStreet News Network      08 February, 2020 10:02 PM      0 Comments
Yes Bank Gets Shareholders Approval To Raise Upto Rs. 10,000 Crores

As seen on the 7th of February, 2020, Yes Bank has received the shareholder's approval to raise upto Rs. 10,000 crores. The amount will be raised through issuance of equity shared or other convertible securities. The autbroised share capital of the bank will increase to Rs. 1,100 crores from Rs. 8000 crores.

The decision to raise capital is to meet the minimum capital requirement that the Reserve Bank of India (RBI) has imposed. 

Yes bank has roped in Anshu Jain, former Chief of Deutsche Bank who is heading global investment bank Cantor Fitzgerald and 2 other domestic companies for it's fund raising of $2 billion. Other merchant bankers who have been appointed by the private lender include IDFC Securities and Ambit Capital. 

The raised funds are to be put to meet the expansion plans of the lender, human capital, infrastructure, technology and a further paramount lending opportunities.

The Yes bank's stock on National Stock Exchange on the 7th of February, 2020 closed 0.39% at Rs. 38.7. 

In late 2019 - September, Yes Bank's capital adequacy was 8.60% just above the mandatory 8% level. In August 2019 it had managed to raise $275 million by selling shares to a bunch of domestic and foreign portfolio investors. 

In January 2019, Yes Bank had rejected Erwin Singh Braich's $1.2 billion investment offer. 

 

Author - Dyuti Pandya. 



Share this article:

User Avatar
About:


Leave a feedback about this
TRENDING NEWS

arvind-kejriwals-plea-for-interim-release-rejected-by-delhi-high-court
Trending Judiciary
Arvind Kejriwal's plea for interim release rejected by Delhi High Court [Read Order]

Delhi High Court rejects Arvind Kejriwal's plea for interim release in money laundering case related to liquor policy scam, pending ED's response.

28 March, 2024 10:50 AM
youtuber-strings-plea-against-youtube-accounts-suspension-andhra-pradesh-hc-issues-notice-to-centre-google
Trending Top Stories
BREAKING: Youtuber String’s plea against Youtube accounts suspension: Andhra Pradesh HC issues notice to Centre, Google

Andhra Pradesh High Court issues notice to the Centre and Google LLC on Youtube journalist String’s plea against suspension of its accounts by Google (which owns Youtube).

28 March, 2024 11:26 AM

TOP STORIES

delhi-liquor-scam-court-remands-arvind-kejriwal-to-ed-custody-till-march-28-read-remand-application
Trending Judiciary
Delhi liquor scam: Court remands Arvind Kejriwal to ED custody till March 28 [Read Order]

Delhi liquor scam: Arvind Kejriwal remanded to ED custody till March 28. Court grants agency permission for interrogation in liquor policy case.

23 March, 2024 11:53 AM
sc-dismisses-centres-plea-for-review-of-judgment-directing-ed-to-furnish-written-grounds-of-arrest-to-pmla-accused
Trending Judiciary
SC dismisses Centre’s plea for review of judgment directing ED to furnish written grounds of arrest to PMLA accused [Read Order]

Supreme Court dismisses Centre's plea, upholds judgment mandating Enforcement Directorate to provide written grounds of arrest in PMLA cases.

23 March, 2024 03:14 PM
kerala-hc-to-hear-lesbian-couples-plea-against-forced-conversion-therapy-on-april-9
Trending Judiciary
Kerala HC to hear lesbian couple’s plea against forced conversion therapy on April 9

Kerala HC will hear a lesbian couple’s plea highlighting that one of them was subjected to forced conversion therapy.

23 March, 2024 03:30 PM
how-can-people-be-compelled-to-vote-madras-hc-asks
Trending Judiciary
“How can people be compelled to vote? Madras HC asks

“How can people be compelled to vote?”, the Madras HC queried in a plea asking employers in Tamil Nadu to demand proof from employees of having voted on polling day.

23 March, 2024 05:04 PM

ADVERTISEMENT


Join Group

Signup for Our Newsletter

Get Exclusive access to members only content by email