Yes Bank gets shareholders' nod to raise $1 bn

Yes Bank's shareholders today approved raising up to USD 1 billion in core capital through multiple routes.

They also approved the re-appointment of Rana Kapoor as the chief executive and managing director for three years, subject to final approval from the Reserve Bank of India, a late evening statement from the private sector lender said.

"The shareholders have approved through special resolution to raise capital aggregating up to USD 1 billion by way of issue of shares (QIP/ADR/GDR/FCCB)," it said.

All the 13 resolutions put up at the meeting, for which the media was not allowed, were approved by the shareholders, the bank statement said.

Other resolutions include appointment of Subhash Chander Kalia as non-executive non-independent director, and R Chandrashekhar and Pratima Sheorey as independent directors for five years each, it said.

The resolution for re-appointment of Ajai Kumar as the non-executive, non-independent director was also approved.

In a special resolution, the shareholders approved a proposal to borrow/raise funds in Indian/foreign currency by issue of debt securities up to a total amount of Rs 30,000 crore and raise the total borrowing limit of the bank to Rs 1,10,000 crore, it said.