Yes Bank gains on fund raising plans

Yes Bank rose 0.53% to Rs 1,192.70 at 9:20 IST on BSE after the bank announced that the capital raising committee of the board would consider the proposal to raise funds.

The announcement was made after market hours yesterday, 15 December 2016.

Meanwhile, the BSE Sensex was up 17.70 points, or 0.07%, to 26,536.77.

On the BSE, 12,683 shares were traded in the counter so far, compared with average daily volume of 2.01 lakh shares in the past one quarter. The stock had hit a high of Rs 1,195.85 and a low of Rs 1,190 so far during the day.

Yes Bank said that the capital raising committee (CRC) of the board of the bank would consider the proposal to raise funds by issuing debt securities on private placement basis, including the terms of the issue. The board will consider to issue tier 1, Basel III bonds on or after 20 December 2016. The board will also consider issue of green infra bonds on or after 23 December 2016.

The bank said that it has necessary approvals from the board of directors and shareholders to borrow/raise funds in Indian/foreign currency by issue of debt securities including but not limited to non-convertible debentures, medium term notes (MTN), bonds upto Rs 10000 crore by the bank, in one or more tranches on private placement basis from time to time.

Yes Bank reported 31.3% rise in net profit to Rs 801.54 crore on 24.7% rise in total income to Rs 4982.23 crore in Q2 September 2016 over Q2 September 2015.

Yes Bank is one of the leading private sector banks in India.

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