Yes Bank Board To Consider Fundraising Plans On January 22; Stock Ends Flat

Yes Bank said that it will consider a proposal to raise funds at its board meeting scheduled on January 22. The funds may be raised through financial instruments such as equity shares, depository receipts, convertible bonds, debentures and warrants.

“In continuation to our letter dated January 11, 2021, we wish to inform you that the Board of Directors of YES Bank Limited at its meeting scheduled on January 22, 2021, inter alia, to also discuss and consider: raising of funds by issue of equity shares/depository receipts /convertible bonds/debentures/warrants/any other equity-linked securities, through permissible modes subject to necessary shareholders/regulatory approvals, as applicable,” Yes Bank said in a regulatory filing to the stock exchanges.

In March last year, eight lenders led by State Bank of India had infused more than Rs 10,000 crore into Yes Bank, as part of a rescue deal approved by the Reserve Bank of India. The bank had also raised nearly Rs 15,000 crore through a follow-on public offer. 

The shares of Yes Bank edged higher by 0.2 per cent to end the session at Rs 17.70. The BSE Sensex had ended lower by 470 points or 0.96 per cent at Rs 48,564.55 and the NSE Nifty had ended at 14,281.30, down 152.45 points or 0.06 per cent.