YES Bank’s board nods to their ₹10,000 crore fundraising plan on December 21.
The private lender informed in a regulatory filing that their board has agreed to the ₹10,000 crore fundraising plan. The filing said, “The board of directors of YES Bank in its meeting held on December 21, 2021, inter alia, have considered and approved raising of funds by issue of equity shares/ depository receipts/ convertible bonds/ debentures/ warrants/ any other equity-linked securities, through permissible modes, subject to necessary approvals from share-holders / regulators, as applicable for an amount up to Rs.10,000 crore.”
YES Bank’s board had previously given nod to raise another Rs.10,000 crores in June, by issuing debt securities.
According to a stock exchange related source, on terms of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and other and other applicable provisions, if any, the Board of Directors of the Bank in its meeting held on June 10, 2021, have inter alia, considered and approved seeking share-holders’ approval for borrowing/ raising funds in India/ foreign currency up to Rs.10,000 crore by issue of debt securities including but not limited to non-convertible debentures, bonds, Medium Term Note (MNT), etc., in terms of Section 42, 71 and other applicable privileges of the Companies Act, 2013 read with Companies (Prospectus and Allotment of Securities) Rules, 2014, SEBI (Issue and Listing of Debt Securities) Regulations, 2008, the SEBI Listing Regulations and other applicable laws, if any, subject to regulatory approvals, as maybe required.