Yes Bank to raise $500 million in one or more tranches

The Board of Directors of Yes Bank Ltd at its meeting held on April 17, 2013, has empowered the Capital Raising Committee, a sub Committee of the Board, to raise funds by way of issuance of equity capital up to US$ 500 million in one or more tranches on such terms and conditions as it may deem fit. 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), Ordinary Shares through (Depository Receipt Mechanism) Scheme 1993, Follow on Public Issue or by any other appropriate mode as decided by the Capital Raising Committee.

Shares of Yes Bank Ltd last traded in BSE at Rs.479.50, up by Rs.10.25 or 2.18%. The stock hit an intraday high of Rs.488.35 and low of Rs.467.55.

The total traded quantity was 9.33 lakhs compared to 2 week average of 3.19 lakhs.

Source : Equity Bulls

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