Mumbai-based private sector lender Yes Bank Ltd. will hold a board meeting on Friday, June 23 to consider the proposal of raising funds. Notice of the bank's AGM will also be approved during the board meeting.

Share Market Live

NSE

The bank will consider raising funds via debt securities but not limited to non-convertible debentures (NCDs), bonds, medium-term notes (MTN) etc.

However, the bank has not specified the quantum of funds that it plans on raising.

In July last year, Yes Bank had announced a fund raise of Rs 8,900 crore or $1.1 billion from two global private equity investors - Carlyle and Advent International, with each investor acquiring up to a 10 percent stake in the bank.

The fund raising was one of the largest private capital raises by an Indian private sector bank and was supposed to further bolster the capital adequacy of Yes Bank and aid the bank’s medium to long-term sustainable growth objectives.

Shares of Yes Bank have recovered from the day's low, currently trading 0.3 percent higher at Rs 16.40. Out of the 14 analysts that track the lender, 10 of them have a sell recommendation. Only one solitary analyst has a buy recommendation on the same.

First Published:Jun 20, 2023 11:28 AM IST