Yes Bank to issue shares to "Orient Global Tamarind" at Rs 225

Yes Bank Ltd has announced that the Capital Raising Committee of the Board of Directors of the Bank at its meeting held on October 30, 2007, has approved a proposal from Orient Global Tamarind Fund Pte Ltd ("Orient Global Tamarind"), an international investor for private placement upto 1,47,00,000 (One Crore Forty Seven Lac) equity shares of Rs 10/- by way of preferential issue at Rs 225/- per equity share or the minimum issue price calculated in accordance with Chapter XIII (Guidelines For Preferential Issues) of the SEBI (Disclosure and Investor Protection) Guidelines, 2000, whichever is higher.

Further the Bank has informed that an Extra Ordinary General Meeting of the members of the Bank will be held on December 04, 2007 to consider the above.

Source : Equity Bulls

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