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Yes Bank approves additional Rs 5000 crore fundraising

Capital Market 

The approved Rs 5000 crore is over and above the additional fund raise of Rs 10,000 crore previously approved

Yes Bank in a regulatory filing said, the board approved, subject to receipt of requisite approvals, raising of funds for an additional (in addition to Rs 10,000 crore) amount aggregating up to Rs 5,000 crores.

The bank further added that the fund may be raised in one or more tranches by "way of issuance of securities but not limited to through a qualified institutions placement/ public issue, rights issue, global depository receipts, American depository receipts, foreign currency convertible bonds or any other permissible mode.

Shares of Yes Bank jumped 9.94% to Rs 29.30 on BSE. Meanwhile, the S&P BSE Sensex gained 987.39 points or 3.2% to 30,906.19.

Yes Bank was under moratorium for 13 days. It resumed full-fledged banking operations from 18 March 2020. This came after a consortium of eight public and private banks, led by State Bank of India, agreed to infuse capital into Yes Bank to rescue it under the restructuring plan proposed by the government and the Reserve Bank of India (RBI).

Yes Bank is a full service commercial bank' providing a complete range of products, services and technology driven digital offerings, catering to corporate, MSME & retail customers

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Fri, March 27 2020. 09:17 IST