Yes Bank to raise $500 million

The Board of Directors of Yes Bank Ltd. at its meeting held on April 20, 2011, 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) or by any other appropriate mode as decided by the Capital Raising Committee.

The stock was trading at Rs.327.70, up by Rs.4.20 or 1.30%. The stock hit an intraday high of Rs.333.55 and low of Rs.324.20.

The total traded quantity was 5.02 lakhs compared to 2 week average of 3.76 lakhs.

Source : Equity Bulls

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