is a significant player in the market with an almost $40 billion balance sheet,” he told Bloomberg Television in Davos. “I have a feeling that it will not be allowed to fail.” CLICK HERE TO READ FULL REPORT
Meanwhile, on January 10, 2020, the board of YES Bank had approved fund raising of up to Rs 10,000 crore in one or more tranches, on such terms and conditions as it may deem fit, by way of issuance of securities including but not limited through Qualified institutional placement (QIP)/ Global Depository Receipts (GDRs)/ American Depository Receipts (ADRs)/ Foreign Currency Convertible Bonds (FCCBs)/ or any other methods on private placement basis.
YES Bank has called extraordinary general meeting (EGM) of the Bank Friday, February 07, 2020 to take shareholders' approval for the proposed fund raising. The bank said its overall Capital Adequacy Ratio is comfortably above regulatory requirements and all efforts are being made to financially strengthen the Bank even further.
Earlier, in August 2019, YES Bank had raised Rs 1,930 crore through the QIP route. The Bank allotted 231 million equity shares to eligible qualified institutional buyers (QIBs) at Rs 83.55 per equity share, as per Sebi pricing formula.
At 11:40 am, YES Bank was trading 8 per cent higher at Rs 44.40 on the BSE, as compared to a 0.28 per cent rise in the S&P BSE Sensex. The counter witnessed huge trading volumes with a combined 172 million equity shares changing hands on the NSE and BSE so far.