YES Bank board clears Rs 5,000 cr capital raising plan in multiple tranches

Strategic plan to factor in Covid-19 impact

Ailing private sector lender YES Bank will raise up to Rs 5,000 crore as equity capital in the second round to meet regulatory requirement and support business.

The board, at its meeting on Thursday, approved  raising of funds for an additional amount aggregating up to Rs 5,000 crore in one or more tranches, by issuing securities, the bank informed the exchange. Its shares closed 10.27 per cent lower at Rs 26.65 per share on the BSE.

The bank has kept options open to use routes like qualified institutional placement, public issue, rights issue, global depository receipts, American depository receipts, and