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FIPB recommends Yes Bank's $488 million foreign investment plan

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New Delhi: 

The Foreign Investment Promotion Board (FIPB) has recommended Yes Bank's Rs 2,650 crore foreign investment proposal for the consideration of the Cabinet Committee on Economic Affairs, a finance ministry statement said on Monday.

Private-sector lender Yes Bank plans to raise the funds through a qualified institutional placement (QIP) of equity shares or by issuing global depository receipts to foreign institutional investors, the statement said.

Copyright @ Thomson Reuters 2013



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