Yes Bank to raise US$250 million

Yes Bank Ltd has announced that the Board of Directors of the Company at its meeting held on July 21, 2009, inter alia, has empowered the Capital Rising Committee, a sub Committee of the Board, to raise funds by way of issuance of equity capital up to US$ 250 million in one or more traches on such terms and conditions as it may deem fit. The issuance may be by way of QIP, Preferential Allotment or by any other appropriate mode as decided by the Capital Raising Committee.

The stock was trading at Rs.157.80, up by Rs.4.25 or 2.77%. The stock hit an intraday high of Rs.162 and low of Rs.154.50.

The total traded quantity was 2663291 compared to 2 week average of 496605.

Source : Equity Bulls

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