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YES Bank board may take a call on Monday to raise Rs 10,000 cr via FPO

The bank is likely to file for its offer document soon after the board clears the fundraising plan.

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The bank has received offers from foreign portfolio investors (FPIs) to buy up to 9.98 per cent stake and some of them plan to convert it into unsponsored American Depository Receipts (ADRs), said a source close to the development.

Dev Chatterjee Mumbai

3 min read Last Updated : Jun 21 2020 | 9:54 PM IST

The YES Bank board is meeting on Monday to take a call to raise up to Rs 10,000 crore via a follow-on share sale to help boost its capital base.

The bank is likely to file for its offer document soon after the board clears the fundraising plan. The shares for the FPO (follow-on public offer) will be priced as per the Securities and Exchange Board of India (Sebi) formula.

YES Bank closed at Rs 28 a share on Friday, giving it a total market valuation of Rs 35,141 crore.

An email sent to YES Bank did not elicit any

Topics : Rana Kapoor YES Bank Securities and Exchange Board of India Non-performing assets CG power cox & kings Dewan Housing Essel Group Enforcement Directorate