YES Bank shareholders approve raising Rs 10,000 crore through equity

The shareholders of YES Bank on Friday cleared a proposal to raise up to Rs 10,000 crore by issuing equity shares or convertible securities. 

This would help enhance the private sector lender’s capital adequacy.

At an extraordinary general meeting, investors approved a resolution to increase authorised share capital from Rs 800 crore to Rs 1,100 crore.

They also authorised the lender’s plans to raise capital through issuance of equity shares or other convertible securities (Special Resolution), the bank informed the BSE.

Earlier this month, the bank scaled down its fundraising plan substantially to Rs 10,000 crore, from nearly to $2 billion approved by the