Yes Bank to raise over Rs 16,500 cr via equity, debt

The bank today reported 27.42% rise in standalone net profit at Rs 702.11 crore for the fourth quarter ended March 2016

Private sector lender Yes Bank today said its Board has approved raising over Rs 16,500 crore through issue of equity capital as well as debt securities in one or more tranches.

"The Board of Directors have approved raising of funds by way of issuance of equity capital up to $1 billion (Rs 6,650 crore) in one or more tranches on such terms and conditions as it may deem fit subject to approval of the shareholders," Yes Bank said in a BSE filing.

Read more from our special coverage on "YES BANK"

• Yes Bank Q4 net profit grows 27% to Rs 702 crore
• Yes Bank raises Rs 545 crore via Basel-III complaint bonds
• Yes Bank buys over 5% stake in advisory firm IiAS
• Yes Bank targets 2.5% market share by 2020, retail big thrust

It further said: "The issuance may be by way of qualified institutions placement (QIP) or any other international offering like global depository receipts (GDRs)/American depository receipts (ADRs), or by any other appropriate mode as decided by the Board or Committee thereof."

The bank added that its Board also approved "raising of funds by way of issuance of debt securities including but not limited to non-convertible debentures, MTN (Medium Term Notes), bonds up to Rs 10,000 crore (in INR or FCY) by the Bank, in one or more tranches and/or series, in domestic and /or overseas market. On private placement".

Yes Bank today reported 27.42% rise in standalone net profit at Rs 702.11 crore for the fourth quarter ended March 2016 as against net profit of Rs 550.99 crore in the corresponding quarter of 2014-15.