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Yes Bank board to mull fund raising

Capital Market 

Yes Bank on Monday (23 March 2020) said its board will meet on Thursday, 26 March 2020, to consider raising funds.

The board will consider raising funds by issue of equity shares/depository receipts/convertible bonds/debentures/warrants/any other equity linked securities, through permissible modes including but not limited to a qualified institutions placement, rights issue, further public offer, etc., subject to such approvals, as may be required under applicable laws.

Shares of Yes Bank were down 6.29% at Rs 37.25. The scrip hovered in the range of Rs 34.50 to Rs 43.70 so far.

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 reported a net loss of Rs 18,560.31 crore in Q3 December 2019 as compared to a net profit of Rs 1,001.85 crore in Q3 December 2018. Total income in the December quarter stood at Rs 6,268.50 crore, down by 29.2% from Rs 8,849.81 crore reported in the same period last year.

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: Tue, March 24 2020. 12:39 IST