Strong investor interest for capital raising plans, says YES Bank

Private lender YES Bank on Wednesday said it has received strong interest from various investors on its plans to raise capital as the lender approaches the Reserve Bank of India (RBI) for approval to increase the bank’s authorised share capital. 

“The bank has received strong interest from multiple foreign as well as domestic private equity and strategic investors for this capital raise and remains firmly on course to raising growth capital subject to the necessary approvals,” it said in a regulatory filing. 

The lender has got approval from its board to increase its authorised capital from Rs 800 crore to Rs 1,100 crore.  Subsequent to the RBI’s nod, the bank will seek approval from its shareholders. 

Despite this, the bank’s shares tanked 4.19 per cent to close at Rs 53.7 on the BSE.