Yes Bank seeks shareholders approval for raising Rs 16,500 cr

Private sector lender Yes Bank will seek shareholders approval for raising about Rs 16,500 crore through issue of debt securities as well as equity capital in one or more tranches.

The annual general meeting of the bank will be held on June 7, Yes Bank said in a statement today.

The bank proposes to seek approval for borrowing or raising funds in Indian or foreign currency by issue of debt securities up to Rs 10,000 crore to eligible investors on private placement basis, it said.

The proposed fund would be raised in one or more tranches in domestic and or overseas market, as per the structure and within the limits permitted by the RBI and other regulatory authorities, it said.

These would form part of the overall borrowing limits approved by shareholders of Rs 50,000 crore, it further said.

Besides, the bank proposes to raise additional capital aggregating up to USD 1 billion (about Rs 6,500 crore) or its Indian rupee equivalent by way of placement of shares through Qualified Institutions Placement (QIP) and/or private placement in international markets through ADRs/ GDRs, it said.