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Yes Bank gets shareholders' nod to raise $1 bn

Press Trust of India  |  Mumbai 

Yes Bank's shareholders today approved raising up to USD 1 billion in core capital through multiple routes.

They also approved the re-appointment of as the for three years, subject to final approval from the Reserve of India, a late evening statement from the said.

"The shareholders have approved through special resolution to raise capital aggregating up to USD 1 billion by way of issue of shares (QIP/ADR/GDR/FCCB)," it said.

All the 13 resolutions put up at the meeting, for which the media was not allowed, were approved by the shareholders, the statement said.

Other resolutions include appointment of Subhash Chander Kalia as non-independent director, and R Chandrashekhar and Pratima Sheorey as independent directors for five years each, it said.

The resolution for re-appointment of as the non-executive, was also approved.

In a special resolution, the shareholders approved a proposal to borrow/raise funds in Indian/foreign currency by issue of debt securities up to a total amount of Rs 30,000 crore and raise the total borrowing limit of the to Rs 1,10,000 crore, it said.

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

First Published: Tue, June 12 2018. 21:50 IST
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